Leonardo DRS, Inc. (NASDAQ:DRS) Stake Reduced by US Bancorp DE

US Bancorp DE lessened its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,602 shares of the company's stock after selling 12,236 shares during the period. US Bancorp DE's holdings in Leonardo DRS were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. 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 valued at $54,061,000 after buying an additional 51,014 shares during the period. Franklin Resources Inc. raised its holdings 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 buying an additional 176,326 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Leonardo DRS by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company's stock valued at $28,569,000 after buying an additional 82,049 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock worth $25,995,000 after purchasing an additional 384,522 shares during the period. Finally, Van ECK Associates Corp increased its stake in Leonardo DRS by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock worth $23,809,000 after purchasing an additional 179,224 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

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Insider Activity at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the transaction, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the sale, the director now owns 13,262 shares in the company, valued at approximately $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. Insiders have sold a total of 55,535 shares of company stock valued at $1,941,939 over the last quarter. Insiders own 0.12% of the company's stock.

Leonardo DRS Stock Performance

NASDAQ DRS traded up $0.88 on Friday, reaching $32.23. The stock had a trading volume of 943,950 shares, compared to its average volume of 614,729. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The business's 50-day moving average price is $32.88 and its 200 day moving average price is $31.78. The stock has a market cap of $8.55 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million during 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%. As a group, equities analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is 45.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DRS shares. 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. 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 research report on Friday, March 7th. Finally, Truist Financial boosted their price objective 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and an average price target of $34.83.

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.