Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow Sells 8,854 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 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 $290,765.36. Following the sale, the senior vice president now owns 17,335 shares in the company, valued at approximately $569,281.40. The trade was a 33.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Leonardo DRS Trading Down 3.6 %

Shares of DRS stock opened at $33.69 on Friday. The stock has a market capitalization of $8.93 billion, a PE ratio of 42.65, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The business has a 50-day moving average of $32.93 and a 200 day moving average of $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 quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. As a group, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

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 dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

Leonardo DRS declared that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DRS. Van ECK Associates Corp raised its position in shares of Leonardo DRS by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after acquiring an additional 179,224 shares in the last quarter. Jennison Associates LLC raised its position in shares of Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock worth $1,055,000 after acquiring an additional 7,728 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Leonardo DRS by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock worth $8,236,000 after acquiring an additional 13,613 shares in the last quarter. Illumine Investment Management LLC bought a new position in shares of Leonardo DRS in the 4th quarter worth approximately $1,784,000. Finally, Franklin Resources Inc. raised its position in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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