Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 87.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,529 shares of the company's stock after selling 254,342 shares during the quarter. Janus Henderson Group PLC's holdings in Leonardo DRS were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Leonardo DRS by 183.2% in the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock worth $111,715,000 after buying an additional 2,236,661 shares during the last quarter. Norges Bank purchased a new position in Leonardo DRS in the 4th quarter worth $24,920,000. Teacher Retirement System of Texas raised its stake in 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 acquiring an additional 498,979 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after purchasing an additional 449,642 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings 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 valued at $16,895,000 after purchasing an additional 306,940 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Leonardo DRS news, CFO Michael Dippold sold 26,618 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value 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 $2,249,825.40. This trade represents a 27.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the sale, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. This represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,354 shares of company stock worth $3,019,773 over the last three months. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DRS. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Friday, March 7th. Truist Financial boosted their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. BTIG Research set a $49.00 price target on Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Morgan Stanley lifted their price target on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. 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 MarketBeat.com, Leonardo DRS currently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Leonardo DRS Price Performance

Shares of DRS stock traded down $0.13 on Wednesday, reaching $42.38. 77,189 shares of the company were exchanged, compared to its average volume of 718,380. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year high of $43.40. 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 business has a 50-day moving average price of $37.02 and a 200 day moving average price of $34.71. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 53.61, 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 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. During the same quarter last year, the business posted $0.14 earnings per share. The business'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 fiscal year.

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

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's dividend payout ratio (DPR) is 41.38%.

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.