Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Swiss National Bank

Swiss National Bank raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,600 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank owned 0.06% of Leonardo DRS worth $5,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in 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 last quarter. Jennison Associates LLC raised its position in shares of Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock valued at $1,055,000 after purchasing an additional 7,728 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Leonardo DRS by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock worth $8,236,000 after purchasing an additional 13,613 shares in the last quarter. Illumine Investment Management LLC purchased a new stake in Leonardo DRS during the 4th quarter worth approximately $1,784,000. Finally, Franklin Resources Inc. increased its stake in Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Up 2.9 %

DRS stock opened at $33.95 on Tuesday. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The business’s 50-day moving average is $32.94 and its 200 day moving average is $32.11. 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 $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 return on equity of 10.37% and a net margin of 6.59%. The company had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. On average, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently disclosed 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 1.06%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling at Leonardo DRS

In other news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the transaction, the chief operating officer now owns 78,334 shares of the company’s stock, valued at $2,498,854.60. This represents a 4.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. 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 corporate insiders.

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.