Leonardo DRS, Inc. (NASDAQ:DRS) CFO Sells $870,408.60 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 26,618 shares of Leonardo DRS stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $870,408.60. Following the sale, the chief financial officer now owns 68,802 shares of the company’s stock, valued at approximately $2,249,825.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Leonardo DRS Stock Down 2.0 %

Shares of DRS stock opened at $33.00 on Friday. The stock’s 50 day simple moving average is $32.93 and its 200 day simple moving average is $32.00. 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, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 1.41 and a beta of 0.98.

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

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DRS. Steward Partners Investment Advisory LLC increased its position in Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc grew its holdings in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV grew its holdings in shares of Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Leonardo DRS during the 3rd quarter worth approximately $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leonardo DRS during the 3rd quarter worth approximately $113,000. 18.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.