Rhumbline Advisers Has $3.13 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Rhumbline Advisers grew its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,918 shares of the company’s stock after buying an additional 1,759 shares during the quarter. Rhumbline Advisers’ holdings in Leonardo DRS were worth $3,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DRS. Covestor Ltd boosted its position in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after buying an additional 1,259 shares during the period. KBC Group NV lifted its holdings in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Leonardo DRS in the third quarter worth $109,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leonardo DRS in the third quarter worth $113,000. Finally, Longboard Asset Management LP acquired a new stake in Leonardo DRS in the fourth quarter valued at $212,000. Institutional investors own 18.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on DRS. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Leonardo DRS Stock Up 1.9 %

NASDAQ DRS opened at $30.45 on Friday. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99. The stock has a market capitalization of $8.05 billion, a PE ratio of 38.54, a PEG ratio of 1.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The business’s 50-day moving average is $33.22 and its 200 day moving average is $31.63.

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

Leonardo DRS Dividend Announcement

The company 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. This represents a $0.36 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Pamela Morrow sold 11,100 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at $437,387.65. The trade was a 46.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,089 shares of company stock worth $5,178,619. 0.12% of the stock is owned by corporate insiders.

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.