Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sells $274,312.52 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total transaction of $274,312.52. Following the completion of the sale, the executive vice president now directly owns 55,160 shares of the company’s stock, valued at $1,811,454.40. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Leonardo DRS Trading Down 2.0 %

Shares of DRS opened at $33.00 on Friday. The stock has a market capitalization of $8.75 billion, a P/E ratio of 41.77, a PEG 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. The firm has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $32.00. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The business had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $942.18 million. On average, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

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

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 1.09%. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Analyst Ratings Changes

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

Institutional Trading of Leonardo DRS

Several institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Leonardo DRS during the 4th quarter valued at about $5,454,000. Mackenzie Financial Corp purchased a new stake in Leonardo DRS during the 4th quarter valued at about $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Leonardo DRS by 29.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,762 shares of the company’s stock valued at $4,386,000 after purchasing an additional 31,185 shares during the last quarter. Vident Advisory LLC grew its position in Leonardo DRS by 34.5% during the 4th quarter. Vident Advisory LLC now owns 47,363 shares of the company’s stock valued at $1,530,000 after purchasing an additional 12,153 shares during the last quarter. Finally, Virtus Fund Advisers LLC purchased a new stake in Leonardo DRS during the 4th quarter valued at about $116,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.