10,642 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,642 shares of the company's stock, valued at approximately $344,000.

A number of other institutional investors also recently modified their holdings of DRS. Steward Partners Investment Advisory LLC lifted its holdings 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 last quarter. IFP Advisors Inc lifted its stake 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 in the last quarter. KBC Group NV raised its stake in shares of Leonardo DRS by 42.0% during the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after purchasing an additional 1,086 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Leonardo DRS in the 4th quarter valued at about $219,000. Finally, Mariner LLC purchased a new position in Leonardo DRS during the 4th quarter valued at about $222,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Down 1.3%

Shares of DRS opened at $44.40 on Friday. The company has a market cap of $11.81 billion, a PE ratio of 56.20, a P/E/G ratio of 1.41 and a beta of 0.63. The business has a fifty day moving average of $38.40 and a 200 day moving average of $35.11. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $45.45. 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 (NASDAQ:DRS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The firm had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS's dividend payout ratio is currently 41.38%.

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

Analysts Set New Price Targets

Several analysts have issued reports on DRS shares. JPMorgan Chase & Co. upped their target price on 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 increased their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Truist Financial raised their target price 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. Finally, Bank of America upgraded Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Insider Activity

In other news, CFO Michael Dippold sold 26,618 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 $870,408.60. Following the completion of the sale, the chief financial officer now directly owns 68,802 shares of the company's stock, valued at approximately $2,249,825.40. The trade was a 27.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $1,471,500.00. Following the completion of the sale, the chief executive officer now owns 328,404 shares of the company's stock, valued at $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,354 shares of company stock valued at $3,019,773. 0.34% of the stock is currently 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.

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