Yorktown Management & Research Co Inc acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,900 shares of the company's stock, valued at approximately $260,000.
A number of other hedge funds also recently made changes to their positions in the business. Cerity Partners LLC boosted its position in shares of Leonardo DRS by 1.1% in the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company's stock valued at $1,112,000 after acquiring an additional 359 shares during the period. Bank of Montreal Can raised its position in shares of Leonardo DRS by 2.1% in the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company's stock worth $594,000 after buying an additional 379 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock valued at $260,000 after buying an additional 405 shares during the period. Summit Investment Advisors Inc. grew its position in Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company's stock worth $249,000 after buying an additional 489 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after acquiring an additional 525 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
DRS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Truist Financial boosted their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. 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 research note on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. 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, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.
Check Out Our Latest Report on Leonardo DRS
Leonardo DRS Stock Down 3.6%
Leonardo DRS stock traded down $1.61 on Tuesday, hitting $43.12. 1,656,759 shares of the stock traded hands, compared to its average volume of 758,115. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year high of $46.96. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The business's fifty day simple moving average is $41.18 and its 200 day simple moving average is $35.89. The firm has a market cap of $11.47 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 2.55 and a beta of 0.63.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations 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 posted $0.14 EPS. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.
Leonardo DRS Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.83%. Leonardo DRS's dividend payout ratio is 41.38%.
Insiders Place Their Bets
In related news, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the transaction, the director now owns 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the sale, the chief operating officer now owns 137,283 shares of the company's stock, valued at approximately $4,387,564.68. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.
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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