Sei Investments Co. Reduces Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Sei Investments Co. cut its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,012 shares of the company’s stock after selling 5,542 shares during the period. Sei Investments Co.’s holdings in Leonardo DRS were worth $2,004,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew 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 worth $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc boosted its stake in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares during the period. KBC Group NV grew its position in Leonardo DRS by 42.0% during the 4th quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after purchasing an additional 1,086 shares during the last quarter. Longboard Asset Management LP purchased a new position in Leonardo DRS during the 4th quarter worth $212,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Leonardo DRS in the fourth quarter valued at $213,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction that occurred 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 $6,695,279.25. This trade represents a 19.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS 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 directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,360 shares of company stock worth $4,848,926. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Trading Down 7.8 %

NASDAQ DRS opened at $30.15 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7.99 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. The firm has a 50-day moving average price of $32.40 and a 200 day moving average price of $32.44.

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

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

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, Truist Financial lifted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

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.