Leonardo DRS, Inc. (NASDAQ:DRS) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,926 shares of the company's stock after acquiring an additional 10,652 shares during the quarter. 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 institutional investors and hedge funds have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its holdings in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after purchasing an additional 700 shares during the period. IFP Advisors Inc raised its holdings in shares of Leonardo DRS by 37.0% in the fourth 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 last quarter. KBC Group NV raised its holdings in shares of Leonardo DRS by 42.0% in the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after purchasing an additional 1,086 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of Leonardo DRS in the fourth quarter valued at $212,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Leonardo DRS in the fourth quarter valued at $213,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Trading Up 1.7%

Shares of DRS traded up $0.70 during mid-day trading on Friday, hitting $41.67. 695,765 shares of the company's stock traded hands, compared to its average volume of 713,242. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year high of $43.20. The firm has a market capitalization of $11.09 billion, a P/E ratio of 52.75, a PEG ratio of 1.41 and a beta of 0.64. The business's 50-day moving average price is $35.82 and its 200-day moving average price is $34.35.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 previous year, the business earned $0.14 earnings per share. The company's revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective 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. 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. 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 note on Friday, March 7th. Truist Financial upped their target price on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. increased their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $1,471,500.00. Following the completion of the sale, the chief executive officer now directly owns 328,404 shares of the company's stock, valued at $10,738,810.80. The trade was a 12.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Pamela Morrow sold 8,854 shares of Leonardo DRS stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the sale, the senior vice president now directly owns 17,335 shares of the company's stock, valued at approximately $569,281.40. This trade represents a 33.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,354 shares of company stock valued at $3,019,773 over the last 90 days. Company insiders own 0.34% of the company's stock.

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.