Loomis Sayles & Co. L P Sells 34,744 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Loomis Sayles & Co. L P trimmed its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 96.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,145 shares of the company's stock after selling 34,744 shares during the period. Loomis Sayles & Co. L P's holdings in Leonardo DRS were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in Leonardo DRS by 87.7% in the fourth 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. boosted its stake in shares of Leonardo DRS by 261.6% in the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after purchasing an additional 449,642 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock valued at $25,995,000 after purchasing an additional 384,522 shares during the last quarter. Vanguard Group Inc. lifted its stake in Leonardo DRS by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock valued at $256,377,000 after purchasing an additional 263,002 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Leonardo DRS by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock valued at $23,809,000 after purchasing an additional 179,224 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

DRS has been the subject of several research analyst reports. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Truist Financial boosted their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.83.

Leonardo DRS Trading Down 7.8 %

Shares of NASDAQ DRS traded down $2.56 during midday trading on Friday, reaching $30.15. The stock had a trading volume of 903,143 shares, compared to its average volume of 648,292. The company's 50 day moving average price is $32.40 and its 200 day moving average price is $32.44. 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 twelve month low of $19.88 and a twelve month high of $37.99. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 38.16, 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 quarterly 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 net margin of 6.59% and a return on equity of 10.37%. The business had revenue of $981.00 million for the quarter, compared to analysts' expectations of $942.18 million. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its Board of Directors has authorized a stock 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 often an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction that occurred on 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 $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the transaction, the director now owns 13,262 shares in the company, valued at approximately $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,360 shares of company stock worth $4,848,926 in the last quarter. 0.12% of the stock is owned by corporate insiders.

About Leonardo DRS

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.