16,649 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,649 shares of the company's stock, valued at approximately $538,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Leonardo DRS by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after buying an additional 263,002 shares during the last quarter. FMR LLC boosted its holdings in Leonardo DRS by 183.2% in the 4th 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 last quarter. First Trust Advisors LP grew its stake in shares of Leonardo DRS by 21.2% in the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock valued at $51,505,000 after buying an additional 278,541 shares during the period. Dimensional Fund Advisors LP raised its position 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 valued at $46,274,000 after buying an additional 166,936 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 acquiring an additional 62,395 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Stock Down 0.5%

Shares of Leonardo DRS stock traded down $0.20 during trading hours on Tuesday, reaching $40.64. 1,059,095 shares of the company were exchanged, compared to its average volume of 706,084. The firm has a market cap of $10.81 billion, a PE ratio of 51.44, a PEG ratio of 1.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a 1 year low of $22.71 and a 1 year high of $43.20. The stock's fifty day moving average is $35.02 and its 200 day moving average is $34.03.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 10.37% and a net margin of 6.59%. The company had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. During the same quarter in the prior year, the business earned $0.14 EPS. Leonardo DRS's revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

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

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a $0.09 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. Leonardo DRS's dividend payout ratio (DPR) is presently 41.38%.

Insider Activity

In other Leonardo DRS news, EVP Sally Wallace sold 8,353 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total transaction of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,354 shares of company stock valued at $3,019,773. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DRS shares. JPMorgan Chase & Co. upped their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Truist Financial lifted 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 company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Leonardo DRS has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

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.