Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $1,471,500.00. Following the sale, the chief executive officer now directly owns 328,404 shares of the company’s stock, valued at $10,738,810.80. This represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

William Lynn III also recently made the following trade(s):

• On Friday, January 31st, William Lynn III sold 45,000 shares of Leonardo DRS stock. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00.

Leonardo DRS Stock Down 3.6 %

Shares of NASDAQ DRS opened at $33.69 on Friday. The stock has a market capitalization of $8.93 billion, a P/E ratio of 42.65, a PEG ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The firm’s 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $31.97. 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 released its earnings results on Thursday, February 20th. The company reported $0.38 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 analyst estimates 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 expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS declared that its board has initiated a stock repurchase program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DRS. JPMorgan Chase & Co. upped their price objective 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 increased their price target on shares of 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 raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Hedge Funds Weigh In On Leonardo DRS

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Leonardo DRS by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after purchasing an additional 263,002 shares during the last quarter. FMR LLC boosted its position in Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock valued at $111,715,000 after buying an additional 2,236,661 shares during the period. Geode Capital Management LLC grew its holdings in Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after acquiring an additional 51,014 shares during the last quarter. First Trust Advisors LP increased its position in shares of Leonardo DRS by 21.2% in the fourth quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock valued at $51,505,000 after acquiring an additional 278,541 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Leonardo DRS by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock valued at $46,274,000 after acquiring an additional 166,936 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.