Caisse Des Depots ET Consignations Buys New Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Caisse Des Depots ET Consignations purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,382 shares of the company's stock, valued at approximately $529,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Leonardo DRS by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock worth $256,377,000 after purchasing an additional 263,002 shares in the last quarter. Geode Capital Management LLC increased its stake in Leonardo DRS by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock worth $54,061,000 after buying an additional 51,014 shares during the period. Franklin Resources Inc. lifted its holdings 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 buying an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 75,999 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock valued at $34,495,000 after buying an additional 498,979 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CFO Michael Dippold sold 26,618 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $870,408.60. Following the completion of the transaction, the chief financial officer now owns 68,802 shares in the company, valued at $2,249,825.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the sale, the chief operating officer now directly owns 78,334 shares in the company, valued at $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 144,360 shares of company stock valued at $4,848,926. Company insiders own 0.12% of the company's stock.

Leonardo DRS Stock Up 1.2 %

NASDAQ DRS traded up $0.40 on Tuesday, hitting $33.28. 218,477 shares of the stock traded hands, compared to its average volume of 649,152. 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 stock has a 50-day moving average of $32.77 and a 200 day moving average of $32.34. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The company has a market capitalization of $8.82 billion, a P/E ratio of 42.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $942.18 million. As a group, analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its board has initiated 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. Leonardo DRS's payout ratio is currently 45.57%.

Analyst Ratings Changes

Several research firms recently commented on DRS. Truist Financial boosted their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. 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 report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $34.83.

About Leonardo DRS

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.