Trexquant Investment LP Increases Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Trexquant Investment LP increased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 86.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,369 shares of the company's stock after buying an additional 39,624 shares during the period. Trexquant Investment LP's holdings in Leonardo DRS were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its holdings in shares of Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company's stock valued at $260,000 after acquiring an additional 405 shares during the last quarter. IFP Advisors Inc increased its position 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 worth $63,000 after purchasing an additional 525 shares in the last quarter. Stephens Inc. AR raised its stake in Leonardo DRS by 5.2% in the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company's stock valued at $430,000 after purchasing an additional 652 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Leonardo DRS by 233.3% in the 4th 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 in the last quarter. Finally, KBC Group NV boosted its stake in Leonardo DRS by 42.0% during 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 during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently weighed in on DRS. Truist Financial raised their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. 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. Finally, JPMorgan Chase & Co. upped their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.83.

Leonardo DRS Trading Up 3.4 %

Leonardo DRS stock traded up $1.14 during mid-day trading on Friday, hitting $35.10. The company's stock had a trading volume of 1,106,230 shares, compared to its average volume of 659,281. The stock's fifty day moving average is $32.10 and its two-hundred day moving average is $32.65. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.31 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The business 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%. On average, analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 13th. Leonardo DRS's dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its Board of Directors has approved a stock buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.81, for a total value of $122,844.49. Following the completion of the transaction, the chief operating officer now directly owns 74,805 shares of the company's stock, valued at $2,603,962.05. The trade was a 4.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the 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 represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,360 shares of company stock worth $4,849,137. 0.12% of the stock is currently owned by insiders.

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.