Sally Wallace Sells 8,353 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $274,312.52. Following the completion of the sale, the executive vice president now directly owns 55,160 shares of the company’s stock, valued at $1,811,454.40. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Leonardo DRS Trading Up 5.4 %

Leonardo DRS stock opened at $34.95 on Thursday. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The company’s fifty day moving average price is $32.93 and its two-hundred day moving average price is $31.96. 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 company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 1.41 and a beta of 0.98.

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, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. On average, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given 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 1.03%. Leonardo DRS’s dividend payout ratio is 45.57%.

Leonardo DRS declared that its Board of Directors has initiated a share buyback program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DRS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price 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. Truist Financial lifted 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. Finally, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Hedge Funds Weigh In On Leonardo DRS

Large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after purchasing an additional 2,236,661 shares during the period. Norges Bank acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $24,920,000. Teacher Retirement System of Texas increased its stake in Leonardo DRS by 87.7% in the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock valued at $34,495,000 after acquiring an additional 498,979 shares during the period. JPMorgan Chase & Co. raised its position in Leonardo DRS by 261.6% in the fourth quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock worth $20,081,000 after purchasing an additional 449,642 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after purchasing an additional 384,522 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.