Sally Wallace Sells 8,353 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) EVP Sally Wallace sold 8,353 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the transaction, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. This represents a 13.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Leonardo DRS Trading Down 2.0 %

DRS stock traded down $0.69 during midday trading on Friday, reaching $33.00. The stock had a trading volume of 1,430,989 shares, compared to its average volume of 621,729. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 41.77, 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 quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $32.03.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate 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 net margin of 6.59% and a return on equity of 10.37%. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS announced that its Board of Directors has approved a share repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after purchasing an additional 2,236,661 shares during the period. Norges Bank bought a new position in shares of Leonardo DRS during the fourth quarter worth $24,920,000. Teacher Retirement System of Texas grew its holdings in shares of Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock valued at $34,495,000 after buying an additional 498,979 shares during the period. JPMorgan Chase & Co. increased its position in shares of Leonardo DRS by 261.6% in the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after buying an additional 449,642 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock worth $25,995,000 after buying an additional 384,522 shares during the period. Institutional investors own 18.76% of the company's stock.

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.