Leonardo DRS, Inc. (NASDAQ:DRS) Stock Position Reduced by Jacobs Levy Equity Management Inc.

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC lifted its position in Leonardo DRS by 1.1% in the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company's stock valued at $1,112,000 after purchasing an additional 359 shares during the last quarter. Bank of Montreal Can lifted its position in Leonardo DRS by 2.1% in the 4th quarter. Bank of Montreal Can now owns 18,380 shares of the company's stock valued at $594,000 after purchasing an additional 379 shares during the last quarter. CIBC Asset Management Inc lifted its position in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock valued at $260,000 after purchasing an additional 405 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Leonardo DRS by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company's stock valued at $249,000 after purchasing an additional 489 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Leonardo DRS by 37.0% during the 4th 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. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded up $0.70 during midday trading on Friday, reaching $41.67. The company's stock had a trading volume of 695,765 shares, compared to its average volume of 713,242. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $35.82 and a 200 day moving average price of $34.32. Leonardo DRS, Inc. has a one year low of $22.73 and a one year high of $43.20. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 52.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The business had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. During the same period in the previous year, the firm earned $0.14 EPS. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm 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 of this dividend is Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.86%. Leonardo DRS's payout ratio is currently 41.38%.

Leonardo DRS declared that its board has authorized a stock repurchase program on Thursday, February 20th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sally Wallace sold 8,353 shares of Leonardo DRS 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 $274,312.52. Following the completion of the transaction, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. This trade represents a 13.15% 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 ninety days. 0.34% of the stock is currently owned by corporate insiders.

About Leonardo DRS

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.