Virtus Investment Advisers Inc. purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 17,710 shares of the company's stock, valued at approximately $572,000.
Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock valued at $23,809,000 after buying an additional 179,224 shares during the period. Jennison Associates LLC boosted its position in Leonardo DRS by 31.0% during the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company's stock valued at $1,055,000 after buying an additional 7,728 shares during the period. Illumine Investment Management LLC purchased a new stake in Leonardo DRS during the 4th quarter valued at $1,784,000. Brevan Howard Capital Management LP purchased a new stake in Leonardo DRS during the 4th quarter valued at $503,000. Finally, Vanguard Group Inc. boosted its position in Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after buying an additional 263,002 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.
Insider Buying and Selling
In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction 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. This trade represents a 12.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $290,765.36. Following the sale, the senior vice president now owns 17,335 shares in the company, valued at approximately $569,281.40. The trade was a 33.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,354 shares of company stock valued at $3,019,773. 0.12% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on DRS. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Friday, March 7th. Truist Financial raised their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Morgan Stanley raised their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.00.
Check Out Our Latest Report on DRS
Leonardo DRS Stock Performance
Shares of DRS traded up $0.32 on Friday, reaching $41.04. The company's stock had a trading volume of 949,846 shares, compared to its average volume of 718,056. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The stock has a market capitalization of $10.92 billion, a P/E ratio of 51.95, a PEG ratio of 1.41 and a beta of 0.64. The stock's 50 day simple moving average is $36.72 and its two-hundred day simple moving average is $34.64. Leonardo DRS, Inc. has a 12-month low of $22.73 and a 12-month high of $43.40.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (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 the consensus estimate of $736.72 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.
Leonardo DRS announced that its board has approved a share repurchase 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 often an indication that the company's management believes its shares are undervalued.
Leonardo DRS Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors 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 dividend yield of 0.88%. The ex-dividend date is Thursday, May 22nd. Leonardo DRS's payout ratio is 41.38%.
About Leonardo DRS
(
Free Report)
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.
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