Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CFO Sells 26,618 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) CFO Michael Dippold sold 26,618 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction of $870,408.60. Following the completion of the transaction, the chief financial officer now owns 68,802 shares of the company's stock, valued at $2,249,825.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Leonardo DRS Stock Down 2.0 %

Shares of NASDAQ:DRS traded down $0.69 during midday trading on Friday, reaching $33.00. The company had a trading volume of 1,430,989 shares, compared to its average volume of 621,729. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The stock has a market cap of $8.75 billion, a PE ratio of 41.77, a P/E/G ratio of 1.41 and a beta of 0.98. 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 business's 50 day moving average price is $32.93 and its 200 day moving average price is $32.03.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted 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. The firm had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. Research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Remove Ads

Leonardo DRS Dividend Announcement

The company 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, March 13th. Leonardo DRS's dividend payout ratio is currently 45.57%.

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

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in Leonardo DRS by 183.2% in the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after buying an additional 2,236,661 shares during the period. Norges Bank acquired a new position in shares of Leonardo DRS during the 4th quarter worth approximately $24,920,000. Teacher Retirement System of Texas raised 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 acquiring an additional 498,979 shares during the period. JPMorgan Chase & Co. lifted its holdings in Leonardo DRS by 261.6% during 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position 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. 18.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DRS shares. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Friday, March 7th. 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 report on Friday, February 21st. Finally, Truist Financial upped their price target 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS presently 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.