Deutsche Bank AG Raises Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Deutsche Bank AG raised its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 114.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,773 shares of the company's stock after buying an additional 50,083 shares during the quarter. Deutsche Bank AG's holdings in Leonardo DRS were worth $3,030,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after acquiring an additional 2,236,661 shares in the last quarter. Norges Bank purchased a new stake in Leonardo DRS during the 4th quarter valued at $24,920,000. Teacher Retirement System of Texas increased its holdings in shares of Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock worth $34,495,000 after purchasing an additional 498,979 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Leonardo DRS by 261.6% in the fourth quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock worth $20,081,000 after purchasing an additional 449,642 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Leonardo DRS by 142.1% in the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock worth $16,895,000 after purchasing an additional 306,940 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insiders Place Their Bets

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred 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 of the company's stock, valued at $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the 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 directly owns 17,335 shares of the company's stock, valued at approximately $569,281.40. This trade represents a 33.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,354 shares of company stock worth $3,019,773 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Leonardo DRS Stock Performance

Shares of DRS traded up $1.46 on Tuesday, reaching $42.50. The company's stock had a trading volume of 1,001,005 shares, compared to its average volume of 720,842. The stock's 50 day simple moving average is $37.02 and its two-hundred day simple moving average is $34.71. 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 stock has a market capitalization of $11.31 billion, a P/E ratio of 53.80, a PEG ratio of 1.41 and a beta of 0.64. Leonardo DRS, Inc. has a 12-month low of $22.73 and a 12-month high of $43.40.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.20 earnings per share 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 business had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. During the same quarter last year, the company posted $0.14 EPS. The company's revenue was up 16.1% compared to the same quarter last year. Research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's dividend payout ratio is presently 41.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Truist Financial lifted their price target 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. JPMorgan Chase & Co. boosted their price objective 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. Bank of America upgraded 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. Finally, Morgan Stanley lifted their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.00.

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.