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 Leonardo DRS stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the sale, the senior vice president now directly owns 17,335 shares of the company’s stock, valued at $569,281.40. The trade was a 33.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Leonardo DRS Trading Up 5.4 %

NASDAQ DRS traded up $1.80 on Wednesday, reaching $34.95. The stock had a trading volume of 1,133,968 shares, compared to its average volume of 616,238. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 44.24, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The stock has a fifty day moving average price of $32.89 and a two-hundred day moving average price of $31.94.

Leonardo DRS (NASDAQ:DRS) last posted 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 business had revenue of $981.00 million during 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%. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 annualized dividend and a yield of 1.03%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Trading of Leonardo DRS

Several large investors have recently modified their holdings of DRS. Steward Partners Investment Advisory LLC boosted its position in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after acquiring an additional 525 shares during the period. KBC Group NV increased its stake in 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 buying an additional 771 shares during the period. Virtus Fund Advisers LLC purchased a new stake in Leonardo DRS during the 4th quarter worth $116,000. Finally, Point72 Hong Kong Ltd acquired a new position in Leonardo DRS during the 3rd quarter worth $109,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.