Natixis Advisors LLC trimmed its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,144 shares of the company's stock after selling 8,682 shares during the period. Natixis Advisors LLC's holdings in Leonardo DRS were worth $1,006,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in DRS. Steward Partners Investment Advisory LLC increased its position in shares of Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after purchasing an additional 700 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after buying an additional 525 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Leonardo DRS during the 3rd quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leonardo DRS during the 3rd quarter worth $113,000. Finally, KBC Group NV lifted its holdings in shares of Leonardo DRS by 42.0% during the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after acquiring an additional 1,086 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on DRS. JPMorgan Chase & Co. raised their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Friday, March 7th. Finally, Truist Financial upped their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.83.
View Our Latest Research Report on DRS
Leonardo DRS Trading Down 1.9 %
Shares of NASDAQ DRS traded down $0.64 during midday trading on Friday, reaching $32.83. The company had a trading volume of 643,162 shares, compared to its average volume of 648,671. The firm's fifty day moving average price is $32.82 and its 200-day moving average price is $32.26. 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, Inc. has a one year low of $19.88 and a one year high of $37.99. The stock has a market cap of $8.71 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.
Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating 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 firm had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.
Leonardo DRS Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS's payout ratio is 45.57%.
Leonardo DRS declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.
Insider Activity
In related news, CEO William Lynn III sold 45,000 shares of the company'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 transaction, the chief executive officer now owns 189,937 shares in the company, valued at $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,360 shares of company stock valued at $4,848,926. Insiders own 0.12% of the company's stock.
About Leonardo DRS
(
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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