Meitav Investment House Ltd. Increases Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Meitav Investment House Ltd. boosted its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,940 shares of the company’s stock after buying an additional 2,064 shares during the period. Meitav Investment House Ltd.’s holdings in Leonardo DRS were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after acquiring an additional 354 shares during the last quarter. CIBC Asset Management Inc raised its position in Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after acquiring an additional 405 shares during the last quarter. New York State Teachers Retirement System raised its position in Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after acquiring an additional 432 shares during the last quarter. Glenmede Trust Co. NA raised its position in Leonardo DRS by 1.3% during the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after acquiring an additional 435 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Leonardo DRS by 7.1% during the third quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company’s stock worth $252,000 after acquiring an additional 589 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial raised their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Leonardo DRS presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Leonardo DRS Stock Up 5.4 %

Shares of NASDAQ:DRS opened at $31.15 on Friday. 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 firm has a market cap of $8.23 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.30 and a beta of 1.01. The stock’s 50-day moving average price is $33.67 and its two-hundred day moving average price is $31.49. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. On average, research analysts forecast that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.16%.

Leonardo DRS announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the completion of the sale, the chief executive officer now directly owns 234,937 shares in the company, valued at $8,004,303.59. The trade was a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. This represents a 20.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,089 shares of company stock valued at $5,178,619. Company insiders own 0.12% of the company’s stock.

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.