Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow Sells 8,854 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the completion of the transaction, the senior vice president now owns 17,335 shares of the company’s stock, valued at $569,281.40. This represents a 33.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $34.95 on Thursday. The stock has a market cap of $9.27 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. The stock has a 50 day moving average of $32.93 and a 200-day moving average of $31.96. 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 issued its quarterly earnings data 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. The firm had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. On average, analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Truist Financial lifted 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. Finally, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRS. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Leonardo DRS in the 4th quarter valued at approximately $5,454,000. Mackenzie Financial Corp acquired a new position in Leonardo DRS in the fourth quarter valued at approximately $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 in the last quarter. Vident Advisory LLC lifted its position in Leonardo DRS by 34.5% in the 4th quarter. Vident Advisory LLC now owns 47,363 shares of the company’s stock valued at $1,530,000 after acquiring an additional 12,153 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in shares of Leonardo DRS during the fourth quarter worth about $116,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.