Vanguard Group Inc. Purchases 263,002 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Vanguard Group Inc. lifted its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,934,919 shares of the company's stock after buying an additional 263,002 shares during the period. Vanguard Group Inc. owned about 3.00% of Leonardo DRS worth $256,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. LPL Financial LLC raised its stake in Leonardo DRS by 10.3% during the fourth quarter. LPL Financial LLC now owns 85,423 shares of the company's stock worth $2,760,000 after acquiring an additional 7,956 shares in the last quarter. American Century Companies Inc. increased its position in shares of Leonardo DRS by 35.6% during the 4th quarter. American Century Companies Inc. now owns 63,271 shares of the company's stock worth $2,044,000 after purchasing an additional 16,608 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Leonardo DRS by 23.6% during the 4th quarter. Quantbot Technologies LP now owns 49,823 shares of the company's stock valued at $1,610,000 after purchasing an additional 9,511 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Leonardo DRS by 87.7% in the fourth 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 in the last quarter. Finally, Counterpoint Mutual Funds LLC grew its stake in Leonardo DRS by 148.1% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 22,404 shares of the company's stock worth $724,000 after buying an additional 13,375 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

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Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, 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 value of $1,586,250.00. Following the completion of the transaction, the chief executive officer now directly owns 189,937 shares of the company's stock, valued at approximately $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the sale, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,360 shares of company stock valued at $4,849,137. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Trading Up 9.0 %

DRS traded up $2.83 during mid-day trading on Wednesday, reaching $34.26. The stock had a trading volume of 1,847,652 shares, compared to its average volume of 655,594. The stock has a market capitalization of $9.08 billion, a P/E ratio of 43.37, a P/E/G ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The firm's fifty day simple moving average is $32.12 and its two-hundred day simple moving average is $32.55.

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 firm had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. On average, equities analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

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 outstanding shares. This buyback authorization authorizes the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS's dividend payout ratio is currently 45.57%.

Analyst Upgrades and Downgrades

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

Leonardo DRS Company 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.