Jacobs Levy Equity Management Inc. Has $28.44 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Jacobs Levy Equity Management Inc. lowered its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 880,211 shares of the company's stock after selling 40,945 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.33% of Leonardo DRS worth $28,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in Leonardo DRS by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock worth $23,809,000 after acquiring an additional 179,224 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company's stock worth $1,055,000 after purchasing an additional 7,728 shares during the last quarter. Illumine Investment Management LLC bought a new stake in shares of Leonardo DRS in the 4th quarter worth approximately $1,784,000. Vanguard Group Inc. lifted its stake in Leonardo DRS by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after purchasing an additional 263,002 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Leonardo DRS during the fourth quarter valued at approximately $503,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Up 1.7%

Shares of NASDAQ:DRS traded up $0.70 on Friday, reaching $41.67. The company had a trading volume of 695,765 shares, compared to its average volume of 711,834. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.09 billion, a P/E ratio of 52.75, a P/E/G ratio of 1.41 and a beta of 0.64. The stock has a 50-day moving average price of $35.82 and a 200 day moving average price of $34.30. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $43.20.

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, topping analysts' consensus estimates of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The firm had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.86%. Leonardo DRS's dividend payout ratio (DPR) is presently 41.38%.

Insider Buying and Selling

In related news, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 328,404 shares of the company's stock, valued at approximately $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the company'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 transaction, the chief operating officer now owns 137,283 shares of the company's stock, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,354 shares of company stock worth $3,019,773 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DRS shares. Truist Financial upped 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. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. 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. increased 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. Finally, Morgan Stanley boosted 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company 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.