FIL Ltd Makes New $1.73 Million Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

FIL Ltd purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 53,610 shares of the company’s stock, valued at approximately $1,732,000.

A number of other hedge funds have also modified their holdings of the stock. Barclays PLC boosted its position in Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company’s stock valued at $5,032,000 after purchasing an additional 106,565 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after buying an additional 51,014 shares in the last quarter. Franklin Resources Inc. increased 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 worth $35,371,000 after buying an additional 176,326 shares during the last quarter. JPMorgan Chase & Co. raised its position in Leonardo DRS by 133.1% during the third quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock valued at $4,850,000 after acquiring an additional 98,141 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its stake in Leonardo DRS by 5.1% in the fourth quarter. Oliver Luxxe Assets LLC now owns 89,612 shares of the company’s stock valued at $2,895,000 after acquiring an additional 4,368 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Leonardo DRS

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 transaction of $1,586,250.00. Following the sale, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares in the company, valued at $4,387,564.68. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,360 shares of company stock worth $4,849,137 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DRS has been the topic of several analyst reports. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Truist Financial upped their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS Stock Performance

Shares of DRS opened at $35.10 on Monday. 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, Inc. has a one year low of $19.88 and a one year high of $37.99. The company’s fifty day moving average price is $32.10 and its 200 day moving average price is $32.69. The company has a market capitalization of $9.31 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.38 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 business had revenue of $981.00 million for the quarter, compared to analyst estimates 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 initiated a stock buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS 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.