Leonardo DRS, Inc. (NASDAQ:DRS) SVP Sells $290,765.36 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $290,765.36. Following the sale, the senior vice president now owns 17,335 shares of the company’s stock, valued at $569,281.40. The trade was a 33.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Leonardo DRS Stock Down 2.0 %

Shares of NASDAQ:DRS opened at $33.00 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. The company has a 50 day moving average of $32.93 and a two-hundred day moving average of $32.00. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. As a group, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS declared that its board has approved a stock buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock valued at $23,809,000 after buying an additional 179,224 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Leonardo DRS by 31.0% during the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock valued at $1,055,000 after buying an additional 7,728 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Leonardo DRS by 4.9% during the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after buying an additional 13,613 shares during the last quarter. Illumine Investment Management LLC bought a new position in Leonardo DRS during the fourth quarter worth $1,784,000. Finally, Franklin Resources Inc. lifted its stake in Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DRS shares. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.83.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.