Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by US Bancorp DE

US Bancorp DE decreased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 32.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,602 shares of the company’s stock after selling 12,236 shares during the period. US Bancorp DE’s holdings in Leonardo DRS were worth $827,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Illumine Investment Management LLC purchased a new stake in Leonardo DRS in the 4th quarter worth approximately $1,784,000. Versor Investments LP lifted its holdings in shares of Leonardo DRS by 195.0% during the 4th quarter. Versor Investments LP now owns 41,600 shares of the company’s stock valued at $1,344,000 after acquiring an additional 27,500 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after buying an additional 525 shares during the period. Meitav Investment House Ltd. lifted its position in Leonardo DRS by 19.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,940 shares of the company’s stock worth $418,000 after acquiring an additional 2,064 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Leonardo DRS by 5.4% during the fourth quarter. New York State Common Retirement Fund now owns 26,335 shares of the company’s stock worth $851,000 after purchasing an additional 1,356 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the transaction, the director now owns 13,262 shares in the company, valued at $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Friday, January 31st. The shares were 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 owns 189,937 shares of the company’s stock, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,770 shares of company stock worth $2,226,047. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Down 0.9 %

DRS opened at $30.97 on Tuesday. The stock has a market cap of $8.21 billion, a P/E ratio of 39.20, a P/E/G ratio of 1.41 and a beta of 0.98. The stock’s 50 day moving average price is $32.94 and its 200 day moving average price is $31.77. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS) last issued 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. The company had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. As a group, research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS declared that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on 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 target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

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.