Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $1,471,500.00. Following the transaction, the chief executive officer now directly owns 328,404 shares in the company, valued at $10,738,810.80. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

William Lynn III also recently made the following trade(s):

• On Friday, January 31st, William Lynn III sold 45,000 shares of Leonardo DRS stock. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00.

Leonardo DRS Price Performance

DRS traded up $1.80 during trading on Wednesday, hitting $34.95. 1,133,968 shares of the company traded hands, compared to its average volume of 616,238. The company has a market cap of $9.27 billion, a PE ratio of 44.24, a P/E/G ratio of 1.41 and a beta of 0.98. The stock’s 50-day simple moving average is $32.89 and its two-hundred day simple moving average is $31.94. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99. 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 issued 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. The firm had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. As a group, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its board has authorized a share repurchase plan on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued 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 of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DRS shares. Truist Financial increased their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.83.

Hedge Funds Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently made changes to their positions in DRS. FMR LLC boosted its position in shares of Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company’s stock valued at $111,715,000 after buying an additional 2,236,661 shares during the period. Norges Bank purchased a new position in Leonardo DRS during the 4th quarter valued at $24,920,000. Teacher Retirement System of Texas boosted its holdings in Leonardo DRS by 87.7% during the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock valued at $34,495,000 after acquiring an additional 498,979 shares during the period. JPMorgan Chase & Co. boosted its holdings in Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock valued at $20,081,000 after acquiring an additional 449,642 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after purchasing an additional 384,522 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.