Schonfeld Strategic Advisors LLC Invests $538,000 in Leonardo DRS, Inc. (NASDAQ:DRS)

Schonfeld Strategic Advisors LLC acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,649 shares of the company’s stock, valued at approximately $538,000.

Several other large investors have also added to or reduced their stakes in DRS. Cerity Partners LLC grew its holdings in shares of Leonardo DRS by 1.1% during the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after purchasing an additional 359 shares in the last quarter. Bank of Montreal Can lifted its position in Leonardo DRS by 2.1% in the 4th quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after buying an additional 379 shares during the last quarter. CIBC Asset Management Inc grew its position in Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after acquiring an additional 405 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after acquiring an additional 489 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings 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 worth $63,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

Shares of DRS opened at $41.75 on Friday. Leonardo DRS, Inc. has a twelve month low of $22.64 and a twelve month high of $42.62. The company has a market capitalization of $11.11 billion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. The firm has a 50 day moving average of $34.82 and a 200 day moving average of $33.91. 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 (NASDAQ:DRS) last posted its earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. During the same quarter last year, the company earned $0.14 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, May 22nd. Leonardo DRS’s payout ratio is presently 41.38%.

Insider Transactions at Leonardo DRS

In related news, Director Eric Salzman sold 3,477 shares of Leonardo DRS stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the sale, the director now owns 13,262 shares of the company’s stock, valued at $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the completion of the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,360 shares of company stock worth $3,262,887 over the last three months. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Morgan Stanley increased their price objective on Leonardo DRS from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Bank of America raised shares of 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. Finally, Truist Financial raised their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.