Northern Trust Corp Has $25.08 Million Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Northern Trust Corp boosted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in shares of Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after buying an additional 700 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after buying an additional 525 shares in the last quarter. KBC Group NV raised its stake in shares of Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after buying an additional 1,086 shares in the last quarter. Longboard Asset Management LP acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $213,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Down 0.1%

Shares of NASDAQ DRS opened at $41.75 on Monday. The firm has a market capitalization of $11.11 billion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 1 year low of $22.64 and a 1 year high of $42.62. The firm's 50-day moving average is $34.82 and its 200-day moving average is $33.95.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data 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 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 last year, the firm earned $0.14 EPS. Leonardo DRS's quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

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 paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, May 22nd. Leonardo DRS's payout ratio is 41.38%.

Leonardo DRS announced that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price 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 increased their target price 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 shares of Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Friday, March 7th. Finally, Truist Financial increased 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Insider Buying and Selling

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the firm'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 directly owns 328,404 shares in the company, valued at approximately $10,738,810.80. This trade represents a 12.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Pamela Morrow sold 8,854 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the sale, the senior vice president now owns 17,335 shares in the company, valued at $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 have sold 95,831 shares of company stock valued at $3,140,043 in the last 90 days. 0.34% of the stock is owned by 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.

Want to see what other hedge funds are holding DRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leonardo DRS, Inc. (NASDAQ:DRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.