Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,252,850 shares of the company's stock after selling 1,028,117 shares during the period. Silvercrest Asset Management Group LLC owned about 0.47% of Leonardo DRS worth $40,480,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DRS. Vanguard Group Inc. raised its stake in Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock worth $256,377,000 after acquiring an additional 263,002 shares in the last quarter. FMR LLC increased its stake in Leonardo DRS by 183.2% in the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after purchasing an additional 2,236,661 shares during the period. First Trust Advisors LP increased its stake in Leonardo DRS by 21.2% in the fourth quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock valued at $51,505,000 after purchasing an additional 278,541 shares during the period. Dimensional Fund Advisors LP increased its stake in Leonardo DRS by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock valued at $46,274,000 after purchasing an additional 166,936 shares during the period. Finally, Franklin Resources Inc. increased its stake in Leonardo DRS by 5.0% in the fourth quarter. Franklin Resources Inc. now owns 1,301,964 shares of the company's stock valued at $42,066,000 after purchasing an additional 62,395 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DRS has been the topic of a number of recent research reports. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Friday, March 7th. Truist Financial lifted their price objective 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. Morgan Stanley lifted 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 note on Tuesday, May 6th. BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Transactions at Leonardo DRS

In other news, COO John Baylouny sold 3,529 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 137,283 shares of the company's stock, valued at $4,387,564.68. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the 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 disclosure for this sale can be found here. Insiders sold 92,354 shares of company stock valued at $3,019,773 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

Leonardo DRS Trading Down 1.1%

Shares of NASDAQ:DRS traded down $0.46 during trading on Tuesday, reaching $41.54. The stock had a trading volume of 851,360 shares, compared to its average volume of 713,211. The business has a fifty day moving average price of $36.04 and a 200-day moving average price of $34.43. 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 cap of $11.05 billion, a P/E ratio of 52.58, a PEG ratio of 1.41 and a beta of 0.64. Leonardo DRS, Inc. has a fifty-two week low of $22.73 and a fifty-two week high of $43.40.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The business had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. As a group, analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 22nd. Leonardo DRS's payout ratio is currently 41.38%.

Leonardo DRS announced that its board has authorized a share buyback plan on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.