Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells $1,471,500.00 in Stock

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

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 stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00.

Leonardo DRS Trading Up 5.4 %

DRS traded up $1.80 on Wednesday, hitting $34.95. 1,133,968 shares of the company were exchanged, compared to its average volume of 616,238. 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 12 month low of $19.88 and a 12 month high of $37.99. The firm has a fifty day simple moving average of $32.89 and a two-hundred day simple moving average of $31.94. The stock has a market capitalization of $9.27 billion, a PE ratio of 44.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last issued its 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 net margin of 6.59% and a return on equity of 10.37%. Sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

DRS has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Bank of America upgraded 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. Finally, Truist Financial upped their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Leonardo DRS by 183.2% during the fourth 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 last quarter. Norges Bank bought a new position in shares of Leonardo DRS in the fourth quarter worth approximately $24,920,000. Teacher Retirement System of Texas lifted its stake in shares of 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 worth $34,495,000 after buying an additional 498,979 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 449,642 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Leonardo DRS by 71.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after buying an additional 384,522 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

About Leonardo DRS

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.