Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 71.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,163 shares of the company's stock after selling 41,083 shares during the quarter. Penn Capital Management Company LLC's holdings in Leonardo DRS were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its stake in Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc raised its stake 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 worth $63,000 after purchasing an additional 525 shares during the last quarter. KBC Group NV lifted its holdings in shares of Leonardo DRS by 42.0% during the fourth quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after purchasing an additional 1,086 shares during the period. Longboard Asset Management LP purchased a new stake in Leonardo DRS in the fourth quarter valued at approximately $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Leonardo DRS in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS traded down $0.52 during trading on Monday, reaching $36.73. 477,567 shares of the company's stock traded hands, compared to its average volume of 673,403. 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 fifty-two week low of $19.88 and a fifty-two week high of $37.99. The company has a 50-day simple moving average of $32.76 and a 200-day simple moving average of $33.14. The firm has a market cap of $9.77 billion, a PE ratio of 46.49, a P/E/G ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $942.18 million. As a group, analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.98%. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS announced that its board has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on DRS shares. Bank of America raised shares of 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. Truist Financial lifted their price objective on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their target price on Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $35.33.

Insider Activity

In related news, COO John Baylouny sold 3,529 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the transaction, the chief operating officer now owns 137,283 shares of the company's stock, valued at approximately $4,387,564.68. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total value 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. This represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,360 shares of company stock worth $4,849,137 over the last three months. Insiders own 0.12% of the company's stock.

Leonardo DRS 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.