55,209 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Acquired by Illumine Investment Management LLC

Illumine Investment Management LLC bought a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,209 shares of the company's stock, valued at approximately $1,784,000. Leonardo DRS comprises approximately 1.5% of Illumine Investment Management LLC's portfolio, making the stock its 27th biggest position.

Several other large investors have also made changes to their positions in DRS. Geode Capital Management LLC boosted its stake in Leonardo DRS by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock valued at $54,061,000 after acquiring an additional 51,014 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock valued at $35,371,000 after purchasing an additional 176,326 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Leonardo DRS by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company's stock worth $28,569,000 after purchasing an additional 82,049 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock worth $25,995,000 after purchasing an additional 384,522 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Leonardo DRS by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock valued at $23,809,000 after purchasing an additional 179,224 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

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Leonardo DRS Stock Down 0.5 %

NASDAQ DRS traded down $0.15 during trading hours on Tuesday, reaching $29.89. 836,240 shares of the company's stock were exchanged, compared to its average volume of 615,204. 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 company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. The company's 50-day moving average is $33.17 and its two-hundred day moving average is $31.67. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99.

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

Leonardo DRS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.09 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.20%. Leonardo DRS's dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DRS shares. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Truist Financial boosted their price objective 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Leonardo DRS presently has an average rating of "Moderate Buy" and a consensus target price of $33.17.

Insider Transactions at Leonardo DRS

In other news, Director Eric Salzman sold 3,477 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the sale, the director now directly owns 13,262 shares of the company's stock, valued at approximately $458,732.58. This represents a 20.77 % 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, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred 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 transaction, the chief operating officer now owns 78,334 shares of the company's stock, 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. Insiders sold 63,770 shares of company stock valued at $2,226,047 over the last three months. Company insiders own 0.12% of the company's stock.

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.