Pamela Morrow Sells 8,854 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 shares of the firm’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 sale, the senior vice president now directly owns 17,335 shares of the company’s stock, valued at $569,281.40. This trade represents a 33.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $33.69 on Friday. The business’s fifty day simple moving average is $32.93 and its 200 day simple moving average is $31.97. The firm has a market capitalization of $8.93 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 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 return on equity of 10.37% and a net margin of 6.59%. As a group, analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Leonardo DRS’s payout ratio is presently 45.57%.

Leonardo DRS announced that its Board of Directors has initiated 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Leonardo DRS

Hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in shares of Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc raised its stake in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares during the period. KBC Group NV raised its stake in shares of Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Leonardo DRS during the 3rd quarter valued at $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leonardo DRS during the 3rd quarter valued at $113,000. 18.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted 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. Bank of America raised 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. Finally, Truist Financial lifted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

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.