Jane Street Group LLC Trims Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Jane Street Group LLC decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 73.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,274 shares of the company's stock after selling 161,969 shares during the quarter. Jane Street Group LLC's holdings in Leonardo DRS were worth $1,883,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC increased its holdings in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after buying an additional 700 shares during the last quarter. IFP Advisors Inc grew its stake 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 valued at $63,000 after acquiring an additional 525 shares in the last quarter. KBC Group NV lifted its position in Leonardo DRS by 42.0% during the fourth 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. Longboard Asset Management LP bought a new stake in Leonardo DRS during the fourth quarter worth about $212,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Leonardo DRS during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In related news, EVP Sally Wallace sold 8,353 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. The trade was a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the completion of the sale, the chief operating officer now owns 137,283 shares in the company, valued at $4,387,564.68. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,354 shares of company stock worth $3,019,773 in the last ninety days. Company insiders own 0.12% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DRS. Morgan Stanley upped their price objective on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note 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 for the company in a research report on Friday, March 7th. 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 research report on Thursday, April 17th. 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 research report on Friday, February 21st. Finally, BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Leonardo DRS currently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS traded up $0.32 during mid-day trading on Friday, reaching $41.04. 949,846 shares of the company's stock were exchanged, compared to its average volume of 718,056. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 51.95, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. Leonardo DRS, Inc. has a 52 week low of $22.73 and a 52 week high of $43.40. 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 firm has a 50-day moving average price of $36.72 and a two-hundred day moving average price of $34.64.

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 analysts' consensus estimates of $0.17 by $0.03. The company had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. Analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

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

Leonardo DRS Announces Dividend

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 paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's payout ratio is 41.38%.

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.