Leonardo DRS, Inc. (NASDAQ:DRS) SVP Sells $290,765.36 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) SVP Pamela Morrow sold 8,854 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the sale, the senior vice president now directly owns 17,335 shares of the company's stock, valued at approximately $569,281.40. This represents a 33.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Leonardo DRS Stock Performance

Leonardo DRS stock traded down $0.69 during trading hours on Friday, hitting $33.00. The stock had a trading volume of 1,430,989 shares, compared to its average volume of 621,729. The company has a 50-day moving average of $32.93 and a two-hundred day moving average of $32.03. 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, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The company has a market cap of $8.75 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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

Leonardo DRS Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Leonardo DRS by 183.2% in the 4th quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after purchasing an additional 2,236,661 shares during the period. Norges Bank bought a new position in shares of Leonardo DRS during the 4th quarter worth approximately $24,920,000. Teacher Retirement System of Texas boosted its stake 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 valued at $34,495,000 after buying an additional 498,979 shares in the last quarter. JPMorgan Chase & Co. grew its position in Leonardo DRS by 261.6% in the fourth quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after acquiring an additional 449,642 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised 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 acquiring an additional 384,522 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Company 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.