Quantbot Technologies LP Boosts Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Quantbot Technologies LP grew its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,823 shares of the company’s stock after buying an additional 9,511 shares during the quarter. Quantbot Technologies LP’s holdings in Leonardo DRS were worth $1,610,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Cerity Partners LLC boosted its holdings in Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after acquiring an additional 354 shares during the period. CIBC Asset Management Inc lifted its holdings in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after buying an additional 405 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after acquiring an additional 435 shares in the last quarter. IFP Advisors Inc boosted its holdings in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Leonardo DRS by 5.2% in the fourth 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. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, Truist Financial boosted 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.83.

Leonardo DRS Stock Up 2.9 %

DRS stock opened at $33.95 on Tuesday. The firm has a fifty day moving average price of $32.94 and a two-hundred day moving average price of $32.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating 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 business had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Research analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

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

Insider Buying and Selling

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.81, for a total transaction of $122,844.49. Following the completion of the transaction, the chief operating officer now owns 74,805 shares in the company, valued at approximately $2,603,962.05. The trade was a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction on 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 position. The disclosure for this sale can be found here. Insiders sold a total of 144,360 shares of company stock worth $4,848,926 in the last three months. 0.12% of the stock is owned by insiders.

Leonardo DRS 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.