Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells $1,471,500.00 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) CEO William Lynn III sold 45,000 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value of $1,471,500.00. Following the completion of the transaction, the chief executive officer now directly owns 328,404 shares of the company's stock, valued at approximately $10,738,810.80. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

William Lynn III also recently made the following trade(s):

• On Friday, January 31st, William Lynn III sold 45,000 shares of Leonardo DRS stock. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded down $0.69 during trading hours on Friday, reaching $33.00. The company's stock had a trading volume of 1,430,989 shares, compared to its average volume of 621,729. The firm has a 50 day moving average price of $32.93 and a 200-day moving average price of $32.03. 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 stock has a market cap of $8.75 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99.

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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 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 company had revenue of $981.00 million for the quarter, compared to analysts' expectations of $942.18 million. On average, analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS announced that its board has authorized a stock repurchase program on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Institutional Trading of Leonardo DRS

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its stake in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after acquiring an additional 700 shares in the last quarter. IFP Advisors Inc grew its holdings in 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 acquiring an additional 525 shares in the last quarter. KBC Group NV increased its position in Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after purchasing an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Leonardo DRS in the 3rd quarter valued at about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leonardo DRS in the 3rd quarter worth approximately $113,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DRS has been the subject of several research analyst reports. 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 research note on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $34.83.

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.