Fox Run Management L.L.C. Sells 6,956 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Fox Run Management L.L.C. reduced its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 26.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,416 shares of the company’s stock after selling 6,956 shares during the quarter. Fox Run Management L.L.C.’s holdings in Leonardo DRS were worth $627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after purchasing an additional 179,224 shares during the last quarter. Jennison Associates LLC grew its position in shares of Leonardo DRS by 31.0% during the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock worth $1,055,000 after buying an additional 7,728 shares during the period. Janus Henderson Group PLC grew its position in shares of Leonardo DRS by 4.9% during the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock worth $8,236,000 after buying an additional 13,613 shares during the period. Illumine Investment Management LLC bought a new stake in shares of Leonardo DRS during the fourth quarter worth approximately $1,784,000. Finally, Franklin Resources Inc. lifted its holdings in Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after buying an additional 176,326 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other Leonardo DRS news, EVP Sally Wallace sold 8,353 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total transaction of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares of the company’s stock, valued at $1,811,454.40. The trade was a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the transaction, the director now owns 13,262 shares of the company’s stock, valued at $458,732.58. The trade was a 20.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,360 shares of company stock worth $4,848,926 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Trading Up 2.9 %

NASDAQ:DRS opened at $33.95 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The business’s 50-day simple moving average is $32.94 and its 200-day simple moving average is $32.11. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The stock has a market capitalization of $9.00 billion, a PE ratio of 42.97, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

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 analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is 45.57%.

Leonardo DRS declared that its board has authorized a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.