Silvercrest Asset Management Group LLC Sells 1,028,117 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Silvercrest Asset Management Group LLC trimmed its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 45.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,252,850 shares of the company's stock after selling 1,028,117 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.47% of Leonardo DRS worth $40,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DRS. Barclays PLC raised its position in shares of Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company's stock worth $5,032,000 after purchasing an additional 106,565 shares during the period. JPMorgan Chase & Co. lifted its position in Leonardo DRS by 133.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company's stock valued at $4,850,000 after acquiring an additional 98,141 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Leonardo DRS during the 4th quarter valued at about $415,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Leonardo DRS by 52.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,962 shares of the company's stock worth $645,000 after purchasing an additional 6,853 shares in the last quarter. Finally, KBC Group NV raised its stake 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 worth $119,000 after purchasing an additional 1,086 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS traded down $0.28 during mid-day trading on Thursday, reaching $40.30. 255,665 shares of the company's stock were exchanged, compared to its average volume of 711,629. The firm has a 50-day moving average price of $36.41 and a two-hundred day moving average price of $34.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 50.99, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. Leonardo DRS, Inc. has a 52 week low of $22.73 and a 52 week high of $43.40.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $736.72 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 16.1% on a year-over-year basis. Analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, May 22nd. Leonardo DRS's dividend payout ratio (DPR) is 41.38%.

Insiders Place Their Bets

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated 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 transaction, the chief operating officer now owns 137,283 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lynn III sold 45,000 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 328,404 shares in the company, valued at $10,738,810.80. The trade was a 12.05% decrease in their ownership of the stock. 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 ninety days. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on DRS shares. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Truist Financial raised their price target on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. 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 report on Tuesday, May 6th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.