Leonardo DRS, Inc. (NASDAQ:DRS) SVP Sells $290,765.36 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the sale, the senior vice president now owns 17,335 shares in the company, valued at $569,281.40. This trade represents a 33.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Leonardo DRS Stock Up 5.4 %

DRS traded up $1.80 during trading on Wednesday, reaching $34.95. 1,133,968 shares of the stock were exchanged, compared to its average volume of 616,238. The stock has a market cap of $9.27 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The stock’s 50 day moving average price is $32.89 and its two-hundred day moving average price is $31.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Equities analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS announced that its board has authorized a share repurchase plan on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial increased their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Bank of America upgraded shares of 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 objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Institutional Trading of Leonardo DRS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRS. Vanguard Group Inc. lifted its holdings in shares of Leonardo DRS by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after purchasing an additional 263,002 shares in the last quarter. FMR LLC increased its position in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock valued at $111,715,000 after purchasing an additional 2,236,661 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Leonardo DRS by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after purchasing an additional 51,014 shares during the last quarter. First Trust Advisors LP increased its holdings in Leonardo DRS by 21.2% in the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after acquiring an additional 278,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Leonardo DRS by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock worth $46,274,000 after acquiring an additional 166,936 shares during the last quarter. Institutional investors and hedge funds own 18.76% 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.