Boston Partners Reduces Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Boston Partners lowered its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 41.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,586 shares of the company's stock after selling 26,759 shares during the period. Boston Partners' holdings in Leonardo DRS were worth $1,214,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its position in shares of Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock valued at $25,995,000 after purchasing an additional 384,522 shares during the last quarter. Van ECK Associates Corp raised its position in Leonardo DRS by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock worth $23,809,000 after acquiring an additional 179,224 shares during the period. Franklin Resources Inc. boosted its stake in Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock valued at $35,371,000 after acquiring an additional 176,326 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Leonardo DRS in the fourth quarter valued at about $4,304,000. Finally, Madison Investment Advisors LLC bought a new position in shares of Leonardo DRS during the 4th quarter valued at approximately $3,791,000. 18.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total value 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 trade represents a 19.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,360 shares of company stock worth $4,848,926 over the last 90 days. Corporate insiders own 0.12% of the company's stock.

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Leonardo DRS Price Performance

NASDAQ:DRS traded down $0.50 during trading hours on Wednesday, hitting $33.85. 555,493 shares of the company's stock traded hands, compared to its average volume of 622,188. The firm has a market cap of $8.98 billion, a P/E ratio of 42.85, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $32.93 and its two-hundred day simple moving average is $32.16. 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 posted its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $942.18 million. On average, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS announced that its board has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Leonardo DRS's dividend payout ratio is presently 45.57%.

Analysts Set New Price Targets

Several research firms recently commented on DRS. Bank of America upgraded Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.83.

Leonardo DRS Company 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.