Wellington Management Group LLP Sells 144,593 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Wellington Management Group LLP reduced its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 10.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,246,525 shares of the company's stock after selling 144,593 shares during the period. Wellington Management Group LLP owned about 0.47% of Leonardo DRS worth $40,275,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Leonardo DRS by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after acquiring an additional 263,002 shares during the period. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 51,014 shares during the period. Franklin Resources Inc. lifted its stake in shares of Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock valued at $35,371,000 after buying an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $35,165,000 after buying an additional 75,999 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock worth $34,495,000 after buying an additional 498,979 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently commented on DRS. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Finally, Truist Financial raised their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS currently has an average rating of "Moderate Buy" and a consensus target price of $34.83.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, EVP Sally Wallace sold 8,353 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the sale, the executive vice president now directly owns 55,160 shares in the company, valued at $1,811,454.40. This trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,360 shares of company stock worth $4,849,137 over the last quarter. 0.12% of the stock is owned by corporate insiders.

Leonardo DRS Trading Up 3.4 %

DRS traded up $1.14 during trading on Friday, hitting $35.10. 1,106,230 shares of the stock traded hands, compared to its average volume of 659,281. The firm has a market capitalization of $9.31 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. 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 firm has a 50-day moving average of $32.10 and a 200 day moving average of $32.65.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates 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. Equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 1.03%. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS announced that its board has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.