Jackson Creek Investment Advisors LLC Invests $1.59 Million in Leonardo DRS, Inc. (NASDAQ:DRS)

Jackson Creek Investment Advisors LLC purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 4th quarter, Holdings Channel.com reports. The firm purchased 49,158 shares of the company’s stock, valued at approximately $1,588,000.

A number of other hedge funds have also added to or reduced their stakes in DRS. Steward Partners Investment Advisory LLC raised its stake in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares in the last quarter. Covestor Ltd increased its position in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares in the last quarter. IFP Advisors Inc lifted its stake in Leonardo DRS by 37.0% in the 4th 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 last quarter. KBC Group NV boosted its position in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after buying an additional 771 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Leonardo DRS during the third quarter worth $109,000. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $29.84 on Friday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 1.41 and a beta of 1.01. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The company’s fifty day moving average is $33.00 and its 200 day moving average is $31.67. 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 released its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The firm had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS announced that its board has authorized a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.36 annualized dividend and a yield of 1.21%. Leonardo DRS’s payout ratio is 45.57%.

Insiders Place Their Bets

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the sale, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Baylouny sold 8,235 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total value of $284,107.50. Following the completion of the transaction, the chief operating officer now directly owns 81,863 shares in the company, valued at $2,824,273.50. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,770 shares of company stock worth $2,226,047. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DRS. Truist Financial increased their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.17.

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.