Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 96.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,145 shares of the company’s stock after selling 34,744 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Leonardo DRS were worth $37,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Pamela Morrow sold 8,854 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $290,765.36. Following the completion of the transaction, the senior vice president now directly owns 17,335 shares in the company, valued at approximately $569,281.40. The trade was a 33.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,360 shares of company stock worth $4,848,926 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Performance

NASDAQ DRS opened at $32.88 on Tuesday. The company has a fifty day moving average of $32.77 and a two-hundred day moving average of $32.34. The company has a market capitalization of $8.72 billion, a PE ratio of 41.62, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS) last released 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. 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 the consensus estimate of $942.18 million. As a group, analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a yield of 1.09%. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

Wall Street Analysts Forecast Growth

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

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.