Leonardo DRS, Inc. (NASDAQ:DRS) Shares Purchased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 148.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,404 shares of the company's stock after purchasing an additional 13,375 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in Leonardo DRS were worth $724,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in DRS. Cerity Partners LLC boosted its holdings 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 acquiring an additional 354 shares during the last quarter. CIBC Asset Management Inc raised its holdings 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 worth $260,000 after purchasing an additional 405 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Leonardo DRS by 1.3% in the 3rd 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 in the last quarter. IFP Advisors Inc grew its holdings in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after purchasing an additional 525 shares during the period. Finally, Stephens Inc. AR increased its position in 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 purchasing an additional 652 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other news, SVP Pamela Morrow sold 8,854 shares of the 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 approximately $569,281.40. This represents a 33.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the business'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 value of $1,586,250.00. Following the transaction, the chief executive officer now owns 189,937 shares of the company's stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,360 shares of company stock valued at $4,848,926 over the last 90 days. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

DRS has been the topic of a number of recent research reports. 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 research report on Friday, March 7th. Truist Financial lifted their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.83.

Leonardo DRS Stock Down 2.0 %

Shares of DRS stock traded down $0.69 on Friday, hitting $33.00. The stock had a trading volume of 1,430,989 shares, compared to its average volume of 620,991. The stock's 50 day moving average is $32.93 and its 200-day moving average is $31.97. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 41.77, a P/E/G ratio of 1.41 and a beta of 0.98. 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 quick ratio of 1.70 and a current ratio of 2.11.

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, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $942.18 million. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS declared that its board has approved a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. Leonardo DRS's payout ratio is 45.57%.

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.