American Century Companies Inc. Increases Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

American Century Companies Inc. lifted its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 35.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 63,271 shares of the company's stock after acquiring an additional 16,608 shares during the quarter. American Century Companies Inc.'s holdings in Leonardo DRS were worth $2,044,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DRS. Van ECK Associates Corp lifted its holdings in Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock worth $23,809,000 after purchasing an additional 179,224 shares in the last quarter. Jennison Associates LLC grew its stake in Leonardo DRS by 31.0% during the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company's stock valued at $1,055,000 after acquiring an additional 7,728 shares in the last quarter. Illumine Investment Management LLC bought a new stake in Leonardo DRS during the 4th quarter worth approximately $1,784,000. Franklin Resources Inc. lifted its stake in Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock worth $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Leonardo DRS by 7.5% in the 4th 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 during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

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Analysts Set New Price Targets

DRS has been the topic of several research analyst reports. JPMorgan Chase & Co. upped 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. Truist Financial raised their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Friday, March 7th. Two equities 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.83.

Leonardo DRS Price Performance

Shares of DRS traded up $1.14 during midday trading on Friday, reaching $35.10. The stock had a trading volume of 1,106,230 shares, compared to its average volume of 660,095. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The company's 50-day moving average is $32.10 and its 200 day moving average is $32.69. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. On average, equities analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

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

Insider Buying and Selling at Leonardo DRS

In related 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 owns 13,262 shares of the company's stock, valued at $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated 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 transaction, the chief executive officer now owns 189,937 shares in the company, valued at $6,695,279.25. This represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,360 shares of company stock worth $4,849,137. 0.12% of the stock is currently 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.