Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold Sells 26,618 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 26,618 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value of $870,408.60. Following the transaction, the chief financial officer now owns 68,802 shares in the company, valued at $2,249,825.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Leonardo DRS Stock Performance

Shares of DRS opened at $33.69 on Friday. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99. The stock has a market capitalization of $8.93 billion, a P/E ratio of 42.65, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company’s fifty day moving average is $32.93 and its two-hundred day moving average is $31.97.

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

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 1.07%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DRS shares. Bank of America upgraded shares of 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. JPMorgan Chase & Co. lifted 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 increased their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRS. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Leonardo DRS during the 4th quarter worth $5,454,000. Mackenzie Financial Corp acquired a new position in Leonardo DRS during the fourth quarter worth about $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Leonardo DRS by 29.8% in the fourth 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 buying an additional 31,185 shares in the last quarter. Vident Advisory LLC lifted its position in shares of 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 acquiring an additional 12,153 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of Leonardo DRS during the 4th quarter worth approximately $116,000. Hedge funds and other institutional investors 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.