Balyasny Asset Management L.P. Invests $1.38 Million in Leonardo DRS, Inc. (NASDAQ:DRS)

Balyasny Asset Management L.P. purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,720 shares of the company's stock, valued at approximately $1,380,000.

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

Leonardo DRS Price Performance

Shares of DRS stock traded up $0.70 during mid-day trading on Friday, hitting $41.67. The company had a trading volume of 695,765 shares, compared to its average volume of 713,242. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $43.20. The stock's 50 day moving average price is $35.82 and its 200-day moving average price is $34.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The company has a market capitalization of $11.09 billion, a P/E ratio of 52.75, a P/E/G ratio of 1.41 and a beta of 0.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $736.72 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS declared that its board has authorized a share buyback plan on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Leonardo DRS Dividend Announcement

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

Insider Buying and Selling

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction of $1,471,500.00. Following the transaction, the chief executive officer now owns 328,404 shares in the company, valued at $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,354 shares of company stock worth $3,019,773. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DRS. Morgan Stanley raised their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Friday, March 7th. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Truist Financial lifted their price target on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

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.