Resona Asset Management Co. Ltd. Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Resona Asset Management Co. Ltd. acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 14,362 shares of the company's stock, valued at approximately $464,000.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Leonardo DRS by 233.3% during the fourth 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. IFP Advisors Inc increased its holdings in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after acquiring an additional 525 shares in the last quarter. KBC Group NV raised its position 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 acquired a new stake in Leonardo DRS in the 4th quarter valued at $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Leonardo DRS during the fourth quarter worth $213,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the sale, the chief operating officer now owns 137,283 shares of the company's stock, valued at $4,387,564.68. The trade was a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company's stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,360 shares of company stock valued at $4,849,137. 0.12% of the stock is owned by company insiders.

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Leonardo DRS Stock Performance

Leonardo DRS stock traded up $0.81 during mid-day trading on Tuesday, reaching $36.31. 1,075,207 shares of the company's stock were exchanged, compared to its average volume of 663,287. The firm has a market capitalization of $9.63 billion, a PE ratio of 45.96, a P/E/G 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. The business's fifty day simple moving average is $32.09 and its 200 day simple moving average is $32.74. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its 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 for 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%. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Leonardo DRS Dividend Announcement

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 dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Leonardo DRS's payout ratio is currently 45.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price 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 Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Finally, Truist Financial upped their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report 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. Based on data from MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus target price 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.