Yorktown Management & Research Co Inc Buys Shares of 7,900 Leonardo DRS, Inc. (NASDAQ:DRS)

Yorktown Management & Research Co Inc purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,900 shares of the company’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its stake in 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 purchasing an additional 700 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Leonardo DRS during the 1st quarter worth approximately $46,000. IFP Advisors Inc increased its holdings 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 acquiring an additional 525 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in Leonardo DRS in the 4th quarter valued at $116,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Leonardo DRS during the 4th quarter valued at $219,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Performance

DRS opened at $44.73 on Tuesday. The firm has a market cap of $11.90 billion, a P/E ratio of 51.41, a price-to-earnings-growth ratio of 2.55 and a beta of 0.63. The business’s fifty day moving average is $41.18 and its 200-day moving average is $35.89. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $46.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 2.02.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $736.72 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. Sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. Leonardo DRS’s dividend payout ratio (DPR) is currently 41.38%.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director now owns 23,882 shares of the company’s stock, valued at $1,097,139.08. This represents a 21.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the sale, the chief operating officer now owns 137,283 shares in the company, valued at approximately $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DRS shares. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a “buy” rating in a research note on Monday, May 5th. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Morgan Stanley boosted their price target on Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Truist Financial increased their price objective on Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus target price of $43.50.

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.