Leonardo DRS, Inc. (NASDAQ:DRS) Shares Purchased by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC increased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 148.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,404 shares of the company’s stock after buying an additional 13,375 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Leonardo DRS were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cibc World Markets Corp purchased a new stake in shares of Leonardo DRS in the 4th quarter valued at $223,000. Madison Investment Advisors LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at about $3,791,000. Swiss National Bank lifted its holdings in shares of Leonardo DRS by 0.9% in the 4th quarter. Swiss National Bank now owns 155,600 shares of the company’s stock valued at $5,027,000 after buying an additional 1,400 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Leonardo DRS in the fourth quarter worth about $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Leonardo DRS by 23.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,287 shares of the company’s stock worth $946,000 after acquiring an additional 5,613 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Stock Performance

NASDAQ:DRS opened at $32.23 on Monday. The company has a fifty day moving average of $32.87 and a two-hundred day moving average of $31.87. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The stock has a market capitalization of $8.55 billion, a PE ratio of 40.80, 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.

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

Leonardo DRS Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,535 shares of company stock worth $1,941,939. Corporate 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.