Herald Investment Management Ltd Sells 15,000 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Herald Investment Management Ltd trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 320,000 shares of the company's stock after selling 15,000 shares during the quarter. Leonardo DRS makes up 1.7% of Herald Investment Management Ltd's holdings, making the stock its 16th biggest holding. Herald Investment Management Ltd owned approximately 0.12% of Leonardo DRS worth $10,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Leonardo DRS by 148.5% during the 3rd 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 period. Geode Capital Management LLC lifted its stake 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 worth $54,061,000 after acquiring an additional 51,014 shares during the period. Franklin Resources Inc. boosted its holdings in Leonardo DRS by 16.6% in the third 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 during the last quarter. JPMorgan Chase & Co. increased its position 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 period. Finally, Oliver Luxxe Assets LLC raised its holdings in Leonardo DRS by 5.1% during 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 during the last quarter. 18.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Friday, March 7th. Truist Financial upped their price target on shares of 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. lifted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.33.

Insider Activity at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the sale, the chief executive officer now owns 189,937 shares in the company, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $112,786.84. Following the transaction, the chief operating officer now directly owns 137,283 shares of the company's stock, valued at $4,387,564.68. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,360 shares of company stock valued at $4,849,137. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Stock Performance

DRS traded up $0.53 during trading on Wednesday, hitting $35.67. 601,979 shares of the company traded hands, compared to its average volume of 668,404. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The stock's fifty day moving average is $32.31 and its 200 day moving average is $32.98. The firm has a market cap of $9.49 billion, a P/E ratio of 45.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued 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. The firm had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. As a group, equities analysts predict 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 was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's payout ratio is 45.57%.

Leonardo DRS declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are 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.