Victory Capital Management Inc. Has $1.91 Million Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Victory Capital Management Inc. lessened its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 49.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 59,068 shares of the company's stock after selling 57,370 shares during the quarter. Victory Capital Management Inc.'s holdings in Leonardo DRS were worth $1,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DRS. Geode Capital Management LLC raised its holdings in Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company's stock valued at $54,061,000 after acquiring an additional 51,014 shares during the period. Franklin Resources Inc. grew its position in shares of Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock worth $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Leonardo DRS by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock worth $35,165,000 after purchasing an additional 75,999 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Leonardo DRS by 71.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company's stock valued at $25,995,000 after buying an additional 384,522 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Leonardo DRS by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock valued at $23,809,000 after buying an additional 179,224 shares during the period. Institutional investors own 18.76% of the company's stock.

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Analysts Set New Price Targets

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

Leonardo DRS Price Performance

Leonardo DRS stock traded down $0.71 during midday trading on Friday, reaching $32.98. The company's stock had a trading volume of 676,249 shares, compared to its average volume of 620,600. 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 stock has a market cap of $8.75 billion, a PE ratio of 41.75, 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 business has a 50-day moving average price of $32.93 and a 200-day moving average price of $31.97.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $981.00 million for 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, sell-side analysts predict 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 will be paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 1.09%. Leonardo DRS's dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS declared that its Board of Directors has initiated a stock buyback 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 often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Leonardo DRS news, EVP Sally Wallace sold 8,353 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Baylouny sold 3,529 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the transaction, the chief operating officer now directly owns 78,334 shares of the company's stock, valued at $2,498,854.60. The trade was a 4.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,360 shares of company stock worth $4,848,926. Insiders own 0.12% of the company's stock.

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.