Dynamic Technology Lab Private Ltd raised its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,248 shares of the company's stock after purchasing an additional 9,464 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Leonardo DRS were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Leonardo DRS by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after purchasing an additional 263,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock valued at $54,061,000 after buying an additional 51,014 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Leonardo DRS by 5.0% in the 4th quarter. Franklin Resources Inc. now owns 1,301,964 shares of the company's stock valued at $42,066,000 after buying an additional 62,395 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Leonardo DRS by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock worth $35,165,000 after acquiring an additional 75,999 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Leonardo DRS by 87.7% in the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock valued at $34,495,000 after acquiring an additional 498,979 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Truist Financial raised their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.83.
View Our Latest Stock Report on DRS
Leonardo DRS Price Performance
Shares of NASDAQ DRS traded up $0.74 during trading on Friday, hitting $34.70. 453,544 shares of the company were exchanged, compared to its average volume of 656,854. The firm's fifty day moving average price is $32.10 and its 200 day moving average price is $32.60. 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 company has a market cap of $9.20 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results 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 analyst estimates of $942.18 million. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.
Leonardo DRS Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a yield of 1.04%. Leonardo DRS's dividend payout ratio is presently 45.57%.
Leonardo DRS declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling at Leonardo DRS
In other news, COO John Baylouny sold 3,529 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the sale, the chief operating officer now directly owns 137,283 shares in the company, valued at $4,387,564.68. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the transaction, the chief executive officer now directly owns 189,937 shares of the company's stock, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,360 shares of company stock valued at $4,849,137. Insiders own 0.12% of the company's stock.
Leonardo DRS Profile
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Free Report)
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.
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