Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 214.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 137,900 shares of the company's stock after purchasing an additional 94,100 shares during the period. Renaissance Technologies LLC owned about 0.05% of Leonardo DRS worth $4,456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock worth $111,715,000 after purchasing an additional 2,236,661 shares during the period. Geode Capital Management LLC lifted its position in shares of Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock worth $54,061,000 after purchasing an additional 51,014 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Leonardo DRS by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock valued at $35,165,000 after purchasing an additional 75,999 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Bank of America upgraded Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.33.

Leonardo DRS Stock Up 1.5 %

Leonardo DRS stock traded up $0.54 during mid-day trading on Friday, hitting $37.25. The company had a trading volume of 458,891 shares, compared to its average volume of 672,974. 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 $19.88 and a 1 year high of $37.99. The business has a fifty day moving average of $32.76 and a 200 day moving average of $33.09. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 47.15, a PEG ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is 45.57%.

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

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, 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 transaction of $290,765.36. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Salzman sold 3,477 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. The trade was a 20.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,360 shares of company stock worth $4,849,137. 0.12% of the stock is owned by insiders.

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.