Quantbot Technologies LP Boosts Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Quantbot Technologies LP increased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 23.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,823 shares of the company’s stock after buying an additional 9,511 shares during the quarter. Quantbot Technologies LP’s holdings in Leonardo DRS were worth $1,610,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DRS. Steward Partners Investment Advisory LLC increased its holdings in shares of Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares during the period. IFP Advisors Inc increased its stake in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares during the period. Point72 Hong Kong Ltd acquired a new position in Leonardo DRS in the third quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leonardo DRS in the third quarter valued at about $113,000. Finally, KBC Group NV boosted its stake in shares of Leonardo DRS by 42.0% during the fourth quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after buying an additional 1,086 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. The trade was a 20.77 % 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. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, the chief operating officer now owns 78,334 shares in the company, valued at $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,360 shares of company stock worth $4,848,926 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Leonardo DRS Price Performance

Shares of DRS opened at $33.95 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $32.94 and its two-hundred day moving average is $32.11. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The firm has a market capitalization of $9.00 billion, a PE ratio of 42.97, a P/E/G ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm 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%. Research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

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

Leonardo DRS Announces Dividend

The business 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 $0.09 dividend. 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 1.06%. Leonardo DRS’s dividend payout ratio is presently 45.57%.

Wall Street Analysts Forecast Growth

Several equities 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 on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Truist Financial upped their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS 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.