Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sells 8,353 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $33.69 on Friday. 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 52 week low of $19.88 and a 52 week high of $37.99. The stock has a market capitalization of $8.93 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The stock has a fifty day moving average of $32.93 and a 200-day moving average of $31.97.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping 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 company had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $942.18 million. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire 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 shares are undervalued.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Hedge Funds Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently bought and sold shares of DRS. Steward Partners Investment Advisory LLC increased its holdings 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 purchasing an additional 700 shares in the last quarter. IFP Advisors Inc increased its holdings in Leonardo DRS by 37.0% in 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 increased its holdings in Leonardo DRS by 42.5% in 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 position in Leonardo DRS in the 3rd quarter worth about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Leonardo DRS in the 3rd quarter worth about $113,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analyst Ratings Changes

Several analysts 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 research note on Friday, March 7th. Truist Financial upped their target price 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, JPMorgan Chase & Co. upped their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.