ProShare Advisors LLC boosted its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 49.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,733 shares of the company's stock after buying an additional 6,822 shares during the quarter. ProShare Advisors LLC's holdings in Leonardo DRS were worth $670,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in DRS. Steward Partners Investment Advisory LLC increased its stake in Leonardo DRS by 233.3% during 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 during the period. IFP Advisors Inc grew its stake in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV increased its holdings in Leonardo DRS by 42.0% during the 4th 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 Leonardo DRS in the 4th quarter valued at about $212,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Leonardo DRS in the 4th quarter valued at about $213,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently weighed in on DRS shares. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Friday, March 7th. Truist Financial boosted their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their target price on 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 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. Finally, BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.
Read Our Latest Analysis on Leonardo DRS
Leonardo DRS Price Performance
Leonardo DRS stock traded up $0.54 during trading hours on Friday, hitting $42.29. The stock had a trading volume of 77,111 shares, compared to its average volume of 721,028. Leonardo DRS, Inc. has a 1-year low of $22.73 and a 1-year high of $43.40. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 1.41 and a beta of 0.64. 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 stock's fifty day moving average is $37.36 and its two-hundred day moving average is $34.80.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.14 EPS. As a group, analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.
Leonardo DRS Dividend Announcement
The business 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 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's payout ratio is 41.38%.
Leonardo DRS declared that its board has initiated a stock buyback program on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.
Insiders Place Their Bets
In related news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the completion of the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pamela Morrow sold 8,854 shares of Leonardo DRS 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 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. Insiders sold a total of 92,354 shares of company stock worth $3,019,773 in the last 90 days. 0.34% of the stock is owned by company insiders.
Leonardo DRS Company Profile
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Free Report)
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.
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