Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,043,535 shares of the company's stock after selling 1,123,719 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.91% of Leonardo DRS worth $162,957,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its holdings in 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 acquiring an additional 700 shares during the last quarter. IFP Advisors Inc lifted its position in Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after buying an additional 525 shares in the last quarter. KBC Group NV boosted its stake in Leonardo DRS by 42.0% during the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after buying an additional 1,086 shares during the last quarter. Longboard Asset Management LP acquired a new position in Leonardo DRS during the fourth quarter worth $212,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Leonardo DRS in the 4th quarter valued at $213,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial boosted 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 raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and an average target price of $35.33.

Insider Buying and Selling

In other news, CEO William Lynn III sold 45,000 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the sale, the chief executive officer now owns 189,937 shares of the company's stock, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.81, for a total value of $122,844.49. Following the completion of the transaction, the chief operating officer now owns 74,805 shares of the company's stock, valued at approximately $2,603,962.05. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,360 shares of company stock valued at $4,849,137. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Trading Down 0.8 %

DRS stock traded down $0.30 during mid-day trading on Wednesday, hitting $36.85. 213,973 shares of the company were exchanged, compared to its average volume of 672,844. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The firm has a market capitalization of $9.81 billion, a P/E ratio of 46.65, a PEG ratio of 1.41 and a beta of 0.73. The business has a fifty day simple moving average of $33.02 and a 200-day simple moving average of $33.22. 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 (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $981.00 million during the quarter, compared to analysts' expectations of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. On average, equities research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. Leonardo DRS's dividend payout ratio is presently 45.57%.

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

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.