Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,019 shares of the company's stock after selling 25,289 shares during the quarter. Squarepoint Ops LLC's holdings in Leonardo DRS were worth $1,422,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DRS. Barclays PLC increased its stake in shares of Leonardo DRS by 148.5% in the third quarter. Barclays PLC now owns 178,331 shares of the company's stock worth $5,032,000 after buying an additional 106,565 shares during the last quarter. KBC Group NV grew 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 acquiring an additional 1,086 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Leonardo DRS in the 4th quarter worth about $213,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Leonardo DRS in the 4th quarter valued at about $215,000. Finally, McAdam LLC acquired a new stake in shares of Leonardo DRS in the 4th quarter valued at about $277,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In related news, CFO Michael Dippold sold 26,618 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $870,408.60. Following the completion of the transaction, the chief financial officer now owns 68,802 shares in the company, valued at $2,249,825.40. This represents a 27.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,354 shares of company stock worth $3,019,773. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DRS has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. 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 report on Friday, March 7th. 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. Morgan Stanley lifted their price objective 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. Finally, Truist Financial boosted their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Leonardo DRS Stock Performance

NASDAQ:DRS traded up $0.88 during midday trading on Wednesday, reaching $44.99. 956,121 shares of the company traded hands, compared to its average volume of 735,325. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 56.95, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. The company has a fifty day moving average price of $38.17 and a 200 day moving average price of $35.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $45.88.

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

Leonardo DRS declared that its board has approved a share buyback plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The company 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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's dividend payout ratio (DPR) is 41.38%.

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.