Raymond James Financial Inc. Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Raymond James Financial Inc. bought a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 133,220 shares of the company's stock, valued at approximately $4,304,000. Raymond James Financial Inc. owned 0.05% of Leonardo DRS as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased 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 worth $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc increased its position in Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after acquiring an additional 525 shares during the period. KBC Group NV raised its stake in Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company's stock worth $119,000 after purchasing an additional 1,086 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Leonardo DRS in the 3rd quarter valued at about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leonardo DRS during the 3rd quarter worth approximately $113,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Price Performance

DRS traded down $0.64 during trading on Friday, hitting $32.83. 643,162 shares of the stock traded hands, compared to its average volume of 648,671. The business has a 50 day moving average price of $32.82 and a 200 day moving average price of $32.30. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

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

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

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. Leonardo DRS's payout ratio is currently 45.57%.

Insider Activity at Leonardo DRS

In related news, Director Eric Salzman sold 3,477 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $458,732.58. The trade was a 20.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the transaction, the chief operating officer now owns 78,334 shares of the company's stock, valued at $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,360 shares of company stock valued at $4,848,926. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DRS. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Truist Financial increased 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.83.

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.