Kennedy Capital Management LLC Sells 109,721 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Kennedy Capital Management LLC trimmed its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 484,606 shares of the company's stock after selling 109,721 shares during the quarter. Kennedy Capital Management LLC owned 0.18% of Leonardo DRS worth $15,658,000 as of its most recent filing with the SEC.

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

Leonardo DRS Stock Performance

Leonardo DRS stock traded up $0.69 during mid-day trading on Tuesday, hitting $36.19. 400,996 shares of the company's stock traded hands, compared to its average volume of 660,726. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 45.81, a P/E/G ratio of 1.41 and a beta of 0.73. The firm has a 50 day simple moving average of $32.09 and a two-hundred day simple moving average of $32.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

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Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly 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 return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million during the quarter, compared to analysts' expectations of $942.18 million. On average, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Finally, Truist Financial increased their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a research note 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, Leonardo DRS currently has an average rating of "Moderate Buy" and a consensus price target of $34.83.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the sale, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. The trade was a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the company'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 transaction, the chief executive officer now 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 quarter, insiders have sold 144,360 shares of company stock worth $4,849,137. Company insiders own 0.12% of the company's stock.

Leonardo DRS 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.