UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,762 shares of the company's stock after purchasing an additional 31,185 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.05% of Leonardo DRS worth $4,386,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc raised its stake in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after buying an additional 525 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in Leonardo DRS during the 4th quarter valued at approximately $116,000. KBC Group NV lifted its position in Leonardo DRS by 42.0% during the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after buying an additional 1,086 shares during the period. Finally, Longboard Asset Management LP bought a new stake in Leonardo DRS during the fourth quarter worth about $212,000. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Trading Down 1.3%

NASDAQ DRS traded down $0.59 during trading hours on Thursday, hitting $44.40. 823,207 shares of the company were exchanged, compared to its average volume of 735,675. The stock has a 50-day moving average price of $38.17 and a 200 day moving average price of $35.04. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 52 week low of $22.73 and a 52 week high of $45.66. The stock has a market cap of $11.81 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results 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 return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a $0.09 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.81%. Leonardo DRS's dividend payout ratio (DPR) is currently 41.38%.

Leonardo DRS announced that its board has authorized a share repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DRS. BTIG Research set a $49.00 price target on Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Truist Financial boosted their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Morgan Stanley boosted their price target on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Insider Buying and Selling

In related news, CEO William Lynn III sold 45,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 328,404 shares of the company's stock, valued at $10,738,810.80. This represents a 12.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the 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 in the company, valued at approximately $569,281.40. This trade represents a 33.81% 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 valued at $3,019,773 over the last quarter. 0.34% of the stock is owned by corporate insiders.

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.