Charles Schwab Investment Management Inc. Acquires 75,999 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Charles Schwab Investment Management Inc. increased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,088,369 shares of the company's stock after buying an additional 75,999 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.41% of Leonardo DRS worth $35,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC grew its stake in Leonardo DRS by 1.1% in the third quarter. Cerity Partners LLC now owns 34,051 shares of the company's stock valued at $961,000 after purchasing an additional 354 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Leonardo DRS by 5.3% in the fourth 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 last quarter. Glenmede Trust Co. NA increased its holdings in shares of Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company's stock valued at $958,000 after purchasing an additional 435 shares during the last quarter. IFP Advisors Inc raised its position in shares of Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after purchasing an additional 525 shares during the period. Finally, Stephens Inc. AR lifted its stake in shares of Leonardo DRS by 5.2% during the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company's stock worth $430,000 after buying an additional 652 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

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Insider Buying and Selling

In related news, Director Eric Salzman sold 3,477 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This represents a 20.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, 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. In the last 90 days, insiders have sold 144,360 shares of company stock worth $4,848,926. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded down $1.25 during midday trading on Thursday, reaching $33.70. The company's stock had a trading volume of 788,611 shares, compared to its average volume of 616,863. The company has a market cap of $8.94 billion, a P/E ratio of 42.68, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The business's 50 day moving average price is $32.93 and its two-hundred day moving average price is $31.96.

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

Leonardo DRS announced that its Board of Directors has authorized a share repurchase program on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership 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. Stockholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS's payout ratio is presently 45.57%.

Analyst Ratings Changes

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