Teacher Retirement System of Texas Has $9.55 Million Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Teacher Retirement System of Texas trimmed its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 72.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 290,397 shares of the company's stock after selling 777,233 shares during the period. Teacher Retirement System of Texas owned about 0.11% of Leonardo DRS worth $9,548,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock worth $256,377,000 after purchasing an additional 263,002 shares in the last quarter. FMR LLC increased its position 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 worth $111,715,000 after purchasing an additional 2,236,661 shares during the last quarter. First Trust Advisors LP increased its position in shares of Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock worth $51,505,000 after purchasing an additional 278,541 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Leonardo DRS by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock worth $46,274,000 after purchasing an additional 166,936 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Leonardo DRS by 5.0% during the 4th quarter. Franklin Resources Inc. now owns 1,301,964 shares of the company's stock worth $42,066,000 after acquiring an additional 62,395 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In other news, Director David W. Carey sold 6,438 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. The Goldman Sachs Group started coverage on Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 target price for the company. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Finally, BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Leonardo DRS Trading Down 1.8%

Shares of DRS stock traded down $0.84 on Tuesday, hitting $46.32. The company had a trading volume of 684,995 shares, compared to its average volume of 813,723. The firm has a market cap of $12.32 billion, a P/E ratio of 53.24, a P/E/G ratio of 2.69 and a beta of 0.63. The stock's 50-day moving average is $43.03 and its two-hundred day moving average is $36.70. 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 $47.86.

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, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a $0.09 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.78%. Leonardo DRS's payout ratio is 41.38%.

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.