Cubist Systematic Strategies LLC Buys 10,652 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Cubist Systematic Strategies LLC increased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,926 shares of the company's stock after purchasing an additional 10,652 shares during the period. Cubist Systematic Strategies LLC's holdings in Leonardo DRS were worth $1,807,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Cerity Partners LLC lifted its position in Leonardo DRS by 1.1% during the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company's stock worth $1,112,000 after acquiring an additional 359 shares during the last quarter. Bank of Montreal Can increased its stake 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 purchasing an additional 379 shares during the period. CIBC Asset Management Inc increased its stake in shares of Leonardo DRS by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock worth $260,000 after purchasing an additional 405 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Leonardo DRS by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company's stock worth $249,000 after purchasing an additional 489 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after purchasing an additional 525 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. raised 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. Morgan Stanley upped 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 report on Tuesday, May 6th. Truist Financial increased their target price 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. Finally, BTIG Research set a $49.00 price target on Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS traded up $0.70 during midday trading on Friday, reaching $41.67. 695,765 shares of the company's stock were exchanged, compared to its average volume of 709,989. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company's 50 day simple moving average is $35.62 and its two-hundred day simple moving average is $34.21. Leonardo DRS, Inc. has a 12 month low of $22.73 and a 12 month high of $43.20. The firm has a market capitalization of $11.09 billion, a PE 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 announced its quarterly 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 firm had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. During the same quarter last year, the company earned $0.14 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.86%. Leonardo DRS's dividend payout ratio is currently 41.38%.

Leonardo DRS declared that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business'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 $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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Pamela Morrow sold 8,854 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $290,765.36. Following the sale, the senior vice president now owns 17,335 shares in the company, valued at $569,281.40. The trade was a 33.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,354 shares of company stock worth $3,019,773 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Leonardo DRS Company 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.