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

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total transaction of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. The trade was a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Leonardo DRS Price Performance

NASDAQ DRS opened at $33.00 on Friday. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. The stock 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. The company’s 50 day moving average is $32.93 and its two-hundred day moving average is $32.00. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) 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. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. As a group, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

Leonardo DRS announced that its board has initiated a stock repurchase plan 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 plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in shares of 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 buying an additional 700 shares during the last quarter. IFP Advisors Inc raised 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 valued at $63,000 after buying an additional 525 shares during the last quarter. KBC Group NV raised its position in shares of Leonardo DRS by 42.5% during the third 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 bought a new stake in shares of Leonardo DRS during the third quarter valued at approximately $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leonardo DRS during the third quarter valued at approximately $113,000. 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.