168,801 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 168,801 shares of the company's stock, valued at approximately $5,454,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Leonardo DRS at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in 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 buying an additional 2,236,661 shares during the last quarter. Norges Bank acquired a new position in Leonardo DRS in the 4th quarter worth about $24,920,000. Teacher Retirement System of Texas raised its holdings in Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock worth $34,495,000 after purchasing an additional 498,979 shares during the period. JPMorgan Chase & Co. raised its holdings in Leonardo DRS by 261.6% in the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock worth $20,081,000 after purchasing an additional 449,642 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Leonardo DRS by 142.1% during the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock valued at $16,895,000 after acquiring an additional 306,940 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Trading Up 1.1%

Shares of DRS traded up $0.45 during midday trading on Friday, hitting $42.20. 1,069,102 shares of the stock were exchanged, compared to its average volume of 727,947. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $43.40. The stock has a fifty day simple moving average of $37.52 and a 200 day simple moving average of $34.83. The firm has a market cap of $11.23 billion, a P/E ratio of 53.42, a P/E/G 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.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping 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 period last year, the business posted $0.14 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS's payout ratio is currently 41.38%.

Insider Activity

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

Wall Street Analysts Forecast Growth

DRS has been the subject of a number of research analyst reports. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. 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 research report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on 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 upped their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their price target on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and a consensus 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.