Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Zacks Investment Management

Zacks Investment Management grew its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,974 shares of the company's stock after purchasing an additional 13,051 shares during the period. Zacks Investment Management's holdings in Leonardo DRS were worth $2,002,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC raised its holdings in Leonardo DRS by 148.5% in the third quarter. Barclays PLC now owns 178,331 shares of the company's stock worth $5,032,000 after buying an additional 106,565 shares during the last quarter. Geode Capital Management LLC raised its holdings in Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock worth $54,061,000 after acquiring an additional 51,014 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 acquiring an additional 176,326 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Leonardo DRS by 133.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company's stock valued at $4,850,000 after purchasing an additional 98,141 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its holdings in shares of Leonardo DRS by 5.1% in the 4th quarter. Oliver Luxxe Assets LLC now owns 89,612 shares of the company's stock worth $2,895,000 after purchasing an additional 4,368 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO John Baylouny sold 3,529 shares of the business'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 transaction of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares of the company's stock, valued at approximately $4,387,564.68. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $120,269.43. Following the transaction, the director now owns 13,262 shares in the company, valued at $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,360 shares of company stock worth $4,849,137. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms 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 on the stock in a research report on Friday, March 7th. Truist Financial increased their price objective on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. increased 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.33.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS traded up $1.06 during midday trading on Thursday, hitting $37.00. The company had a trading volume of 160,820 shares, compared to its average volume of 669,855. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The company has a fifty day moving average of $32.45 and a two-hundred day moving average of $33.00. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 1.41 and a beta of 0.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

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, beating analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $981.00 million for the quarter, compared to analysts' expectations of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. On average, equities research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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

Leonardo DRS Dividend Announcement

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

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.