Arrowstreet Capital Limited Partnership Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,727 shares of the company's stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRS. CIBC Asset Management Inc lifted its stake in shares of Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock valued at $260,000 after purchasing an additional 405 shares during the period. IFP Advisors Inc raised its holdings 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 during the last quarter. Stephens Inc. AR boosted its stake in Leonardo DRS by 5.2% during the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company's stock valued at $430,000 after purchasing an additional 652 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Leonardo DRS by 233.3% during 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. Finally, KBC Group NV raised its position in Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock valued at $119,000 after buying an additional 1,086 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DRS. JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Bank of America raised 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. Finally, Truist Financial raised their target price on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.33.

Insider Activity at Leonardo DRS

In other news, EVP Sally Wallace sold 8,353 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares of the company's stock, valued at approximately $1,811,454.40. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the sale, the senior vice president now directly owns 17,335 shares in the company, valued at $569,281.40. This trade represents a 33.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,360 shares of company stock worth $4,849,137. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Stock Performance

Shares of DRS traded up $0.55 during mid-day trading on Friday, hitting $36.46. The stock had a trading volume of 1,150,904 shares, compared to its average volume of 665,198. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. 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 business has a fifty day moving average price of $32.23 and a 200-day moving average price of $32.89. The firm has a market cap of $9.70 billion, a P/E ratio of 46.15, a PEG ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $981.00 million for the quarter, compared to analysts' expectations of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. On average, equities research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm 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. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS declared that its board has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors 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.