15,573 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,573 shares of the company's stock, valued at approximately $503,000.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Leonardo DRS by 32.1% in 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 in the last quarter. Jennison Associates LLC boosted its stake in Leonardo DRS by 31.0% in the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company's stock valued at $1,055,000 after acquiring an additional 7,728 shares in the last quarter. Illumine Investment Management LLC purchased a new position in shares of Leonardo DRS during the fourth quarter worth about $1,784,000. Franklin Resources Inc. increased its position in shares of 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 in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Leonardo DRS by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock worth $256,377,000 after purchasing an additional 263,002 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Down 0.1 %

Shares of Leonardo DRS stock opened at $41.75 on Friday. Leonardo DRS, Inc. has a one year low of $22.27 and a one year high of $42.62. The company has a market cap of $11.11 billion, a P/E ratio of 52.85, a PEG ratio of 1.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The firm has a fifty day moving average of $34.82 and a two-hundred day moving average of $33.87.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm had revenue of $799.00 million during the quarter, compared to the consensus estimate of $736.72 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, May 22nd. Leonardo DRS's dividend payout ratio is presently 41.38%.

Leonardo DRS declared that its Board of Directors 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 an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

DRS has been the topic of a number of research reports. BTIG Research set a $49.00 price target on Leonardo DRS and gave the stock a "buy" rating in a research note on Monday. Bank of America raised shares of 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. JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Truist Financial increased their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $41.00.

Insiders Place Their Bets

In other news, SVP Pamela Morrow sold 8,854 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the transaction, the senior vice president now owns 17,335 shares in the company, valued at $569,281.40. This trade represents a 33.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.81, for a total transaction of $122,844.49. Following the completion of the sale, the chief operating officer now owns 74,805 shares of the company's stock, valued at $2,603,962.05. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,360 shares of company stock worth $3,262,887. 0.12% of the stock is owned by corporate insiders.

Leonardo DRS 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.

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