Quantbot Technologies LP Raises Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Quantbot Technologies LP grew its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,823 shares of the company's stock after purchasing an additional 9,511 shares during the quarter. Quantbot Technologies LP's holdings in Leonardo DRS were worth $1,610,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DRS. Geode Capital Management LLC boosted its position in shares of Leonardo DRS by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock worth $54,061,000 after purchasing an additional 51,014 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock valued at $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Leonardo DRS by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock valued at $35,165,000 after purchasing an additional 75,999 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Leonardo DRS by 87.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock worth $34,495,000 after buying an additional 498,979 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Leonardo DRS by 71.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock valued at $25,995,000 after purchasing an additional 384,522 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, SVP Pamela Morrow sold 8,854 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the sale, the senior vice president now directly owns 17,335 shares in the company, valued at $569,281.40. The trade was a 33.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric Salzman sold 3,477 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now owns 13,262 shares of the company's stock, valued at approximately $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,360 shares of company stock worth $4,848,926. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on DRS shares. JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Bank of America raised shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Friday, March 7th. Finally, Truist Financial upped their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.83.

Leonardo DRS Trading Down 1.9 %

Leonardo DRS stock traded down $0.64 during trading hours on Friday, reaching $32.83. The stock had a trading volume of 643,162 shares, compared to its average volume of 648,671. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. The stock has a market cap of $8.71 billion, a PE ratio of 41.56, a PEG ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The company has a fifty day simple moving average of $32.88 and a 200-day simple moving average of $32.18.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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

Leonardo DRS Announces Dividend

The firm 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's dividend payout ratio is presently 45.57%.

About Leonardo DRS

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.