Point72 Asset Management L.P. Has $643,000 Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Point72 Asset Management L.P. lessened its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 66.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,900 shares of the company's stock after selling 38,600 shares during the period. Point72 Asset Management L.P.'s holdings in Leonardo DRS were worth $643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DRS. Steward Partners Investment Advisory LLC raised its stake in shares of Leonardo DRS by 233.3% in the 4th 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 in the last quarter. IFP Advisors Inc raised its position in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after purchasing an additional 525 shares during the period. KBC Group NV raised its position in shares of 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 acquired a new stake in shares of Leonardo DRS during the fourth quarter worth $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Leonardo DRS during the fourth quarter worth $213,000. Institutional investors own 18.76% of the company's stock.

Insider Activity at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was 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 in the company, valued at approximately $10,738,810.80. This represents a 12.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Pamela Morrow sold 8,854 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the transaction, the senior vice president now directly owns 17,335 shares of the company's stock, valued at approximately $569,281.40. The trade was a 33.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,354 shares of company stock worth $3,019,773. 0.34% of the stock is owned by insiders.

Leonardo DRS Price Performance

Shares of DRS traded up $1.19 during mid-day trading on Tuesday, reaching $42.23. The company had a trading volume of 443,582 shares, compared to its average volume of 718,708. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month 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 company's 50-day moving average is $36.84 and its 200-day moving average is $34.66. The company has a market capitalization of $11.24 billion, a P/E ratio of 53.40, 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, topping analysts' consensus estimates of $0.17 by $0.03. The company had revenue of $799.00 million during the quarter, compared to the consensus estimate of $736.72 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. On average, equities analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its board has initiated a share repurchase plan on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Leonardo DRS Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DRS. JPMorgan Chase & Co. upped their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Truist Financial upped their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. Morgan Stanley upped 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. Finally, BTIG Research set a $49.00 price target on Leonardo DRS and gave the company a "buy" rating in a research report 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.