Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) SVP Sells 8,854 Shares of Stock

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

Leonardo DRS Trading Up 2.9 %

DRS traded up $0.95 during midday trading on Monday, hitting $33.95. The company's stock had a trading volume of 637,950 shares, compared to its average volume of 621,794. The firm has a market cap of $9.00 billion, a P/E ratio of 42.97, a PEG ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $32.94 and a two-hundred day moving average price of $32.11.

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

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Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, March 13th. Leonardo DRS's payout ratio is currently 45.57%.

Leonardo DRS announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently modified their holdings of DRS. GSA Capital Partners LLP raised its holdings in Leonardo DRS by 23.3% in the third quarter. GSA Capital Partners LLP now owns 23,403 shares of the company's stock valued at $660,000 after buying an additional 4,418 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Leonardo DRS by 1,133.6% during the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company's stock valued at $3,286,000 after acquiring an additional 106,999 shares in the last quarter. KBC Group NV boosted its position in Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company's stock worth $73,000 after purchasing an additional 771 shares during the period. CIBC Asset Management Inc acquired a new stake in Leonardo DRS in the 3rd quarter valued at $216,000. Finally, Quest Partners LLC acquired a new stake in Leonardo DRS in the 3rd quarter valued at $449,000. 18.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRS has been the subject of several research reports. Truist Financial lifted their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.83.

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.