Rhumbline Advisers Increases Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Rhumbline Advisers lifted its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,479 shares of the company's stock after acquiring 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 & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Leonardo DRS by 5,230.3% during the first quarter. GAMMA Investing LLC now owns 10,554 shares of the company's stock valued at $321,000 after acquiring an additional 10,356 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at about $5,454,000. Mackenzie Financial Corp bought a new position in shares of Leonardo DRS in the 4th quarter worth approximately $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Leonardo DRS by 29.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,762 shares of the company's stock worth $4,386,000 after buying an additional 31,185 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Leonardo DRS by 34.5% in the fourth quarter. Vident Advisory LLC now owns 47,363 shares of the company's stock worth $1,530,000 after buying an additional 12,153 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DRS. Morgan Stanley upped their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Truist Financial upped their price objective on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. lifted 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. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, March 7th. Finally, BTIG Research set a $49.00 price objective on Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Leonardo DRS Trading Up 1.7%

Shares of Leonardo DRS stock opened at $46.07 on Friday. Leonardo DRS, Inc. has a fifty-two week low of $22.73 and a fifty-two week high of $46.96. 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 company has a market capitalization of $12.26 billion, a P/E ratio of 58.32, a P/E/G ratio of 1.41 and a beta of 0.63. The company has a fifty day moving average of $39.94 and a 200 day moving average of $35.51.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. During the same period in the previous year, the business earned $0.14 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS's dividend payout ratio (DPR) is currently 41.38%.

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

Insider Activity

In other news, CEO William Lynn III sold 45,000 shares of Leonardo DRS 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 sale, the chief executive officer now directly owns 328,404 shares of the company's stock, valued at approximately $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares of the company's stock, valued at $4,387,564.68. This represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,354 shares of company stock worth $3,019,773 over the last quarter. Insiders own 0.34% of the company's stock.

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.

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