Two Sigma Advisers LP Boosts Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Two Sigma Advisers LP boosted its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 51.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,700 shares of the company's stock after buying an additional 7,400 shares during the period. Two Sigma Advisers LP's holdings in Leonardo DRS were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DRS. 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 buying an additional 263,002 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 2,236,661 shares during the period. First Trust Advisors LP boosted 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 valued at $51,505,000 after acquiring an additional 278,541 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Leonardo DRS by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock valued at $46,274,000 after buying an additional 166,936 shares during the period. Finally, Franklin Resources Inc. increased its stake in Leonardo DRS by 5.0% during the fourth 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. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Performance

Leonardo DRS stock traded down $0.57 during mid-day trading on Thursday, reaching $44.42. 467,725 shares of the company were exchanged, compared to its average volume of 734,319. The firm has a market cap of $11.82 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. 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 firm's 50-day simple moving average is $38.17 and its two-hundred day simple moving average is $35.04. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $45.66.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced 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 6.59% and a return on equity of 10.37%. The company had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. During the same period in the previous year, the company posted $0.14 EPS. Leonardo DRS's revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's dividend payout ratio is presently 41.38%.

Insiders Place Their Bets

In related news, SVP Pamela Morrow sold 8,854 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the transaction, the senior vice president now directly owns 17,335 shares of the company's stock, valued at $569,281.40. This trade represents a 33.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction on 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 owns 328,404 shares in the company, valued at approximately $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,354 shares of company stock worth $3,019,773. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DRS shares. Truist Financial increased their target price on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Morgan Stanley raised their price objective on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a report on Friday, March 7th. 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 research note on Friday, February 21st. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

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.