Teacher Retirement System of Texas Reduces Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Teacher Retirement System of Texas reduced its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 72.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,397 shares of the company's stock after selling 777,233 shares during the period. Teacher Retirement System of Texas owned 0.11% of Leonardo DRS worth $9,548,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its stake in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after acquiring an additional 700 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Leonardo DRS by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock valued at $35,165,000 after acquiring an additional 75,999 shares during the period. Raymond James Financial Inc. bought a new position in Leonardo DRS during the fourth quarter valued at about $4,304,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Leonardo DRS by 23.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,287 shares of the company's stock valued at $946,000 after acquiring an additional 5,613 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Leonardo DRS during the fourth quarter valued at about $219,000. 18.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction 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 directly owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the sale, the chief operating officer directly owned 137,283 shares of the company's stock, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

DRS has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Truist Financial lifted their price objective on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, April 17th. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen cut shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They issued a "buy" rating and a $49.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $44.29.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded up $0.75 during trading hours on Monday, hitting $47.16. 1,224,089 shares of the stock were exchanged, compared to its average volume of 814,133. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 2.02. The company has a market cap of $12.55 billion, a PE ratio of 46.41, a price-to-earnings-growth ratio of 2.69 and a beta of 0.63. The company's fifty day simple moving average is $42.82 and its two-hundred day simple moving average is $36.60. Leonardo DRS, Inc. has a 1-year low of $22.73 and a 1-year high of $47.87.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.20 EPS 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 net margin of 7.00% and a return on equity of 10.63%. Leonardo DRS's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS's dividend payout ratio is presently 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.