AlphaQuest LLC decreased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 91.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,419 shares of the company's stock after selling 14,483 shares during the period. AlphaQuest LLC's holdings in Leonardo DRS were worth $46,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in Leonardo DRS by 233.3% in the fourth 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 during the last quarter. IFP Advisors Inc grew its position in 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 lifted its holdings in shares of Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after buying an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Leonardo DRS during the 3rd quarter valued at about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Leonardo DRS during the third quarter worth approximately $113,000. 18.76% of the stock is owned by hedge funds and other institutional investors.
Leonardo DRS Stock Performance
Shares of NASDAQ:DRS traded up $0.95 on Monday, hitting $33.95. 637,950 shares of the company were exchanged, compared to its average volume of 621,794. The company's 50 day moving average price is $32.93 and its two-hundred day moving average price is $32.06. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 1.41 and a beta of 0.98. 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 one year low of $19.88 and a one year high of $37.99.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.
Leonardo DRS announced that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
Leonardo DRS Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, March 13th. Leonardo DRS's payout ratio is 45.57%.
Insider Activity
In other news, Director Eric Salzman sold 3,477 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the sale, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 189,937 shares of the company's stock, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,360 shares of company stock worth $4,848,926. Company insiders own 0.12% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock 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 for the company in a research note on Friday, March 7th. Finally, Truist Financial raised their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.83.
Read Our Latest Research Report on Leonardo DRS
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.
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