XTX Topco Ltd bought a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,896 shares of the company's stock, valued at approximately $384,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DRS. FMR LLC boosted its holdings 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 buying an additional 2,236,661 shares in the last quarter. Norges Bank acquired a new position in shares of Leonardo DRS in the 4th quarter worth $24,920,000. Teacher Retirement System of Texas raised its position in shares of Leonardo DRS by 87.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock worth $34,495,000 after purchasing an additional 498,979 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Leonardo DRS by 261.6% during the fourth quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after purchasing an additional 449,642 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Leonardo DRS by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after purchasing an additional 263,002 shares during the period. 18.76% of the stock is owned by institutional investors.
Leonardo DRS Price Performance
NASDAQ DRS opened at $35.14 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The company has a 50 day simple moving average of $32.31 and a 200-day simple moving average of $32.98. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 1.02%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's payout ratio is presently 45.57%.
Leonardo DRS declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
DRS has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.33.
Read Our Latest Stock Analysis on DRS
Insider Activity at Leonardo DRS
In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the transaction, the chief executive officer now owns 189,937 shares of the company's stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Salzman sold 3,477 shares of the 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 sale, the director now owns 13,262 shares of the company's stock, 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. In the last 90 days, insiders sold 144,360 shares of company stock valued at $4,849,137. Insiders own 0.12% of the company's stock.
About Leonardo DRS
(
Free Report)
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.
See Also
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).
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