Rhumbline Advisers Grows Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Rhumbline Advisers boosted its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,479 shares of the company's stock after purchasing an additional 5,561 shares during the quarter. Rhumbline Advisers' holdings in Leonardo DRS were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after acquiring an additional 2,236,661 shares during the last quarter. Norges Bank acquired a new position in shares of Leonardo DRS during the 4th quarter valued at about $24,920,000. Teacher Retirement System of Texas increased its stake in shares of Leonardo DRS by 87.7% during the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock valued at $34,495,000 after acquiring an additional 498,979 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after acquiring an additional 449,642 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Leonardo DRS by 142.1% during the 4th quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock valued at $16,895,000 after acquiring an additional 306,940 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DRS. 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 report on Tuesday, May 6th. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. 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 report on Thursday, April 17th. Bank of America raised 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 report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $43.50.

Leonardo DRS Trading Down 2.4%

DRS traded down $1.07 on Wednesday, reaching $44.24. 1,511,175 shares of the company's stock were exchanged, compared to its average volume of 755,274. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 2.02. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $46.96. The company's 50 day moving average is $40.61 and its 200-day moving average is $35.70. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.63 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The company had revenue of $799.00 million during the quarter, compared to the consensus estimate of $736.72 million. During the same quarter last year, the company earned $0.14 earnings per share. Leonardo DRS's revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

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

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

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the sale, the director now owns 23,882 shares of the company's stock, valued at $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Leonardo DRS Company 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.