Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 66.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,900 shares of the company's stock after selling 38,600 shares during the quarter. 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 institutional investors also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Leonardo DRS by 1.1% in the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company's stock worth $1,112,000 after purchasing an additional 359 shares during the period. Bank of Montreal Can boosted its stake in shares of Leonardo DRS by 2.1% in the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company's stock worth $594,000 after acquiring an additional 379 shares during the period. CIBC Asset Management Inc boosted its stake in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock worth $260,000 after purchasing an additional 405 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company's stock worth $249,000 after acquiring an additional 489 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Leonardo DRS by 37.0% during 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. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Trading Down 0.3%

NASDAQ:DRS traded down $0.12 during mid-day trading on Wednesday, hitting $42.38. 122,895 shares of the stock traded hands, compared to its average volume of 718,563. The firm's 50 day moving average is $37.02 and its two-hundred day moving average is $34.71. Leonardo DRS, Inc. has a 52 week low of $22.73 and a 52 week high of $43.40. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 1.41 and a beta of 0.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly 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 firm had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. On average, equities research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

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

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

Analyst Upgrades and Downgrades

DRS has been the subject of a number of research reports. Truist Financial increased their target price on 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. increased their price objective 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. Morgan Stanley boosted their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Bank of America upgraded Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Insider Buying and Selling at Leonardo DRS

In related news, SVP Pamela Morrow sold 8,854 shares of the business's stock in a transaction that occurred on 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 owns 17,335 shares of the company's stock, valued at $569,281.40. The trade was a 33.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sally Wallace sold 8,353 shares of Leonardo DRS stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the transaction, the executive vice president now owns 55,160 shares in the company, valued at $1,811,454.40. This represents a 13.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,354 shares of company stock valued at $3,019,773. Company insiders own 0.34% of the company's stock.

About Leonardo DRS

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.