Leonardo DRS, Inc. (NASDAQ:DRS) Holdings Cut by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,246,525 shares of the company's stock after selling 144,593 shares during the period. Wellington Management Group LLP owned approximately 0.47% of Leonardo DRS worth $40,275,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after buying an additional 700 shares during the last quarter. IFP Advisors Inc increased its holdings in 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 buying an additional 525 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in Leonardo DRS in the fourth quarter valued at $116,000. KBC Group NV increased its holdings in Leonardo DRS by 42.0% in the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after buying an additional 1,086 shares during the last quarter. Finally, Longboard Asset Management LP purchased a new position in shares of Leonardo DRS during the fourth quarter worth about $212,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Performance

NASDAQ:DRS traded up $0.41 during mid-day trading on Wednesday, reaching $44.52. The stock had a trading volume of 329,076 shares, compared to its average volume of 731,721. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $45.02. 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 firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 56.35, a PEG ratio of 1.41 and a beta of 0.64. The business has a 50 day simple moving average of $37.93 and a 200 day simple moving average of $34.97.

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. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. During the same period last year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts expect 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 stock repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.81%. Leonardo DRS's payout ratio is currently 41.38%.

Insiders Place Their Bets

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the company's 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 transaction, the chief executive officer now directly owns 328,404 shares of the company's stock, valued at $10,738,810.80. This represents a 12.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,354 shares of company stock valued at $3,019,773. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of 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 target price 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. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Friday, March 7th. Truist Financial increased their target price 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. Finally, BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and an average target price 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.