Victory Capital Management Inc. Sells 57,370 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Victory Capital Management Inc. decreased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 49.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,068 shares of the company’s stock after selling 57,370 shares during the quarter. Victory Capital Management Inc.’s holdings in Leonardo DRS were worth $1,908,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DRS. Cerity Partners LLC grew its holdings in shares of Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after buying an additional 354 shares during the last quarter. CIBC Asset Management Inc lifted its position in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after acquiring an additional 405 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Leonardo DRS by 1.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after purchasing an additional 435 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 valued at $63,000 after purchasing an additional 525 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Leonardo DRS by 5.2% in the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company’s stock worth $430,000 after purchasing an additional 652 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on DRS shares. Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report 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 target price on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Leonardo DRS Stock Up 2.8 %

DRS stock opened at $33.13 on Tuesday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The business’s 50-day moving average is $32.87 and its two-hundred day moving average is $31.90. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $981.00 million for 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%. As a group, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The business 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its Board of Directors has approved a stock buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the sale, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the transaction, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,535 shares of company stock valued at $1,941,939. 0.12% of the stock is owned by company insiders.

Leonardo DRS 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.