Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 75.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 980 shares of the company’s stock after selling 3,031 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Leonardo DRS were worth $32,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its position in shares of Leonardo DRS by 1.1% during the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after purchasing an additional 359 shares during the period. Bank of Montreal Can boosted its position in shares of Leonardo DRS by 2.1% during the 4th quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after purchasing an additional 379 shares during the period. CIBC Asset Management Inc boosted its position in shares of Leonardo DRS by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after purchasing an additional 405 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Leonardo DRS by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after purchasing an additional 489 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Transactions at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the sale, the chief operating officer now directly owns 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $1,471,500.00. Following the sale, the chief executive officer now owns 328,404 shares in the company, valued at $10,738,810.80. This represents a 12.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,354 shares of company stock valued at $3,019,773. Insiders own 0.34% of the company’s stock.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $42.00 on Tuesday. The stock has a market cap of $11.17 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. The company has a fifty day simple moving average of $36.04 and a 200-day simple moving average of $34.43. Leonardo DRS, Inc. has a 12-month low of $22.73 and a 12-month high of $43.40. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $736.72 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. Equities analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

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

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Leonardo DRS’s dividend payout ratio (DPR) is currently 41.38%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a “buy” rating in a research 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 target for the company in a research report on Friday, March 7th. Truist Financial raised their price target on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Morgan Stanley raised their price target on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.