Motley Fool Asset Management LLC Sells 28,762 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Motley Fool Asset Management LLC decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,606 shares of the company's stock after selling 28,762 shares during the quarter. Motley Fool Asset Management LLC's holdings in Leonardo DRS were worth $2,895,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DRS. Cerity Partners LLC grew its position in Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company's stock worth $961,000 after buying an additional 354 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Leonardo DRS by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock worth $260,000 after acquiring an additional 405 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after purchasing an additional 525 shares in the last quarter. Stephens Inc. AR raised its position in shares of Leonardo DRS by 5.2% during the fourth quarter. Stephens Inc. AR now owns 13,308 shares of the company's stock worth $430,000 after acquiring an additional 652 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after purchasing an additional 700 shares during the period. 18.76% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial raised 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. JPMorgan Chase & Co. increased their price objective 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 shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.83.

Leonardo DRS Stock Performance

Shares of DRS stock traded up $2.83 during trading on Wednesday, reaching $34.26. 1,847,652 shares of the company's stock were exchanged, compared to its average volume of 655,594. The firm's fifty day moving average price is $32.12 and its 200-day moving average price is $32.55. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The stock has a market capitalization of $9.08 billion, a PE ratio of 43.37, a PEG ratio of 1.41 and a beta of 0.73. 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 (NASDAQ:DRS - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The company 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%. As a group, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. Leonardo DRS's payout ratio is 45.57%.

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

Insider Buying and Selling at Leonardo DRS

In related news, CFO Michael Dippold sold 26,618 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $870,408.60. Following the sale, 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business's 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 owns 189,937 shares in the company, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,360 shares of company stock valued at $4,849,137 in the last three months. Corporate insiders own 0.12% 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.