First Trust Advisors LP Has $51.51 Million Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

First Trust Advisors LP boosted its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,594,092 shares of the company's stock after buying an additional 278,541 shares during the quarter. First Trust Advisors LP owned approximately 0.60% of Leonardo DRS worth $51,505,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after purchasing an additional 700 shares during the period. IFP Advisors Inc grew its position in Leonardo DRS by 37.0% in 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 last quarter. KBC Group NV increased its holdings in shares of Leonardo DRS by 42.0% during the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after purchasing an additional 1,086 shares during the period. Longboard Asset Management LP acquired a new position in shares of Leonardo DRS during the fourth quarter valued at about $212,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Leonardo DRS in the fourth quarter valued at about $213,000. Institutional investors own 18.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial upped their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, April 17th. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.33.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS traded up $0.54 on Friday, hitting $37.25. The stock had a trading volume of 458,891 shares, compared to its average volume of 672,974. The firm's 50 day moving average price is $32.76 and its 200-day moving average price is $33.09. 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, Inc. has a twelve month low of $19.88 and a twelve month high of $38.00. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73.

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 during the quarter, compared to analyst estimates of $942.18 million. On average, equities research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Leonardo DRS's payout ratio is 45.57%.

Leonardo DRS announced that its Board of Directors has approved a share repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $34.81, for a total value of $122,844.49. Following the transaction, the chief operating officer now directly owns 74,805 shares of the company's stock, valued at approximately $2,603,962.05. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction 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 sale, the chief executive officer now directly 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 have sold 144,360 shares of company stock valued at $4,849,137 over the last three months. 0.12% of the stock is owned by insiders.

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.