Symmetry Investments LP Purchases Shares of 15,200 Leonardo DRS, Inc. (NASDAQ:DRS)

Symmetry Investments LP acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 15,200 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc boosted its holdings in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after acquiring an additional 525 shares during the period. KBC Group NV grew its position in Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company’s stock valued at $119,000 after acquiring an additional 1,086 shares in the last quarter. Longboard Asset Management LP acquired a new stake in shares of Leonardo DRS during the fourth quarter worth about $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Up 1.5 %

Shares of NASDAQ DRS opened at $35.14 on Wednesday. The business has a 50-day moving average price of $32.31 and a 200 day moving average price of $32.98. The stock has a market cap of $9.35 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. 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.

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

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS’s payout ratio is currently 45.57%.

Leonardo DRS declared that its board has initiated a stock repurchase program on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, March 7th. Finally, Truist Financial lifted their price target on Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the transaction, the chief executive officer now owns 189,937 shares in the company, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the completion of the sale, the senior vice president now owns 17,335 shares of the company’s stock, valued at $569,281.40. This trade represents a 33.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,360 shares of company stock worth $4,849,137. 0.12% of the stock is owned by company insiders.

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.