Northern Trust Corp Buys 43,911 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Northern Trust Corp grew its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 776,263 shares of the company's stock after purchasing an additional 43,911 shares during the quarter. Northern Trust Corp owned 0.29% of Leonardo DRS worth $25,081,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Voya Investment Management LLC raised its holdings in shares of Leonardo DRS by 5.6% in the 4th quarter. Voya Investment Management LLC now owns 680,418 shares of the company's stock worth $21,984,000 after purchasing an additional 35,818 shares in the last quarter. Symmetry Investments LP acquired a new position in Leonardo DRS in the fourth quarter worth approximately $491,000. Tower Research Capital LLC TRC increased its holdings in shares of Leonardo DRS by 99.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,851 shares of the company's stock valued at $351,000 after buying an additional 5,397 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Leonardo DRS by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 45,160 shares of the company's stock valued at $1,459,000 after acquiring an additional 2,433 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Leonardo DRS by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock worth $46,274,000 after acquiring an additional 166,936 shares in the last quarter. Institutional investors own 18.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. Morgan Stanley lifted their price target on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Truist Financial lifted their target price 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. Finally, 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 report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Leonardo DRS Stock Up 0.2%

NASDAQ:DRS traded up $0.09 on Friday, hitting $41.06. 149,085 shares of the company's stock traded hands, compared to its average volume of 707,879. The company has a market cap of $10.92 billion, a PE ratio of 51.98, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year high of $43.20. 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 firm has a 50-day moving average price of $35.62 and a 200-day moving average price of $34.21.

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, beating 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 for the quarter, compared to the consensus estimate of $736.72 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued 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 dividend yield of 0.88%. Leonardo DRS's dividend payout ratio is 41.38%.

Leonardo DRS declared that its board has authorized a share repurchase plan on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Leonardo DRS

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the sale, the chief operating officer now directly owns 137,283 shares in the company, valued at $4,387,564.68. The trade was a 2.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Pamela Morrow sold 8,854 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 17,335 shares in the company, valued at $569,281.40. This represents a 33.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,354 shares of company stock worth $3,019,773 over the last 90 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.