Royce & Associates LP Sells 463,983 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Royce & Associates LP trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 968,180 shares of the company's stock after selling 463,983 shares during the quarter. Royce & Associates LP owned approximately 0.37% of Leonardo DRS worth $31,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its holdings in 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 last quarter. IFP Advisors Inc boosted its holdings in shares of Leonardo DRS by 37.0% during 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 period. KBC Group NV grew its stake in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after buying an additional 771 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Leonardo DRS in the 3rd quarter valued at $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Leonardo DRS in the 3rd quarter worth $113,000. Institutional investors own 18.76% of the company's stock.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, 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 value of $112,575.10. Following the sale, the chief operating officer now directly owns 78,334 shares in the company, valued at approximately $2,498,854.60. The trade was a 4.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lynn III sold 45,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,360 shares of company stock valued at $4,848,926. 0.12% of the stock is owned by corporate insiders.

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Leonardo DRS Trading Down 3.6 %

DRS stock traded down $1.26 during midday trading on Thursday, reaching $33.69. The company's stock had a trading volume of 1,166,626 shares, compared to its average volume of 617,998. The business's 50-day simple moving average is $32.93 and its 200-day simple moving average is $31.96. The stock has a market cap of $8.93 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. 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 (NASDAQ:DRS - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS announced that its board has initiated a stock 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Leonardo DRS's payout ratio is 45.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports 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 target 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.