Dynamic Technology Lab Private Ltd Purchases 9,464 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Dynamic Technology Lab Private Ltd grew its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 68.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,248 shares of the company’s stock after acquiring an additional 9,464 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Leonardo DRS were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after buying an additional 525 shares in the last quarter. KBC Group NV increased its holdings in shares of Leonardo DRS by 42.0% in the 4th quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after buying an additional 1,086 shares during the last quarter. Longboard Asset Management LP purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at about $212,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at about $213,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Trading Down 7.8 %

DRS opened at $30.15 on Monday. 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 stock’s 50 day moving average price is $32.40 and its 200-day moving average price is $32.47. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The company had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. On average, equities analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

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

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. Leonardo DRS’s payout ratio is 45.57%.

Insiders Place Their Bets

In related news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the completion of the sale, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the transaction, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,360 shares of company stock worth $4,848,926 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DRS. Truist Financial lifted their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted 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. Finally, Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.