Madison Investment Advisors LLC acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 117,318 shares of the company's stock, valued at approximately $3,791,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock valued at $54,061,000 after acquiring an additional 51,014 shares in the last quarter. Franklin Resources Inc. raised its position in Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock valued at $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Leonardo DRS by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock worth $35,165,000 after buying an additional 75,999 shares during the period. Jacobs Levy Equity Management Inc. grew its position 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 worth $25,995,000 after buying an additional 384,522 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Leonardo DRS by 32.1% in the 4th 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.
Leonardo DRS Stock Down 1.5 %
Shares of Leonardo DRS stock traded down $0.50 during trading on Wednesday, reaching $33.85. The company's stock had a trading volume of 555,493 shares, compared to its average volume of 622,188. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The company has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $32.16. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 42.85, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $942.18 million. As a group, equities analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.
Leonardo DRS announced that its board has authorized a share buyback program on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Leonardo DRS Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Leonardo DRS's payout ratio is 45.57%.
Insiders Place Their Bets
In other news, CFO Michael Dippold sold 26,618 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value of $870,408.60. Following the transaction, the chief financial officer now directly owns 68,802 shares of the company's stock, valued at approximately $2,249,825.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,586,250.00. Following the sale, the chief executive officer now directly owns 189,937 shares of the company's stock, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,360 shares of company stock valued at $4,848,926. Insiders own 0.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on DRS. Truist Financial upped their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Bank of America upgraded Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Two 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 a consensus rating of "Moderate Buy" and an average target price of $34.83.
Read Our Latest Stock Report on DRS
Leonardo DRS Company Profile
(
Free Report)
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.
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