109,140 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Purchased by EAM Global Investors LLC

EAM Global Investors LLC purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 109,140 shares of the company’s stock, valued at approximately $3,526,000.

A number of other hedge funds also recently modified their holdings of the company. Cerity Partners LLC lifted its stake in Leonardo DRS by 1.1% during the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after purchasing an additional 359 shares during the period. Bank of Montreal Can boosted its stake in Leonardo DRS by 2.1% in the 4th quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock valued at $594,000 after buying an additional 379 shares in the last quarter. CIBC Asset Management Inc grew its position in Leonardo DRS by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after acquiring an additional 405 shares during the period. Summit Investment Advisors Inc. raised its stake in Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after acquiring an additional 489 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after acquiring an additional 525 shares during the period. Institutional investors own 18.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in 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 on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. boosted 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. Finally, Truist Financial increased 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $36.31 on Wednesday. The firm has a market cap of $9.66 billion, a P/E ratio of 45.96, a P/E/G ratio of 1.41 and a beta of 0.73. 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 firm has a 50 day simple moving average of $32.13 and a 200 day simple moving average of $32.76. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS announced that its board has approved a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Leonardo DRS

In other 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 transaction, the chief executive officer now owns 189,937 shares in the company, valued at $6,695,279.25. The trade was a 19.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the completion of the transaction, the chief operating officer now owns 137,283 shares of the company’s stock, 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. Over the last 90 days, insiders sold 144,360 shares of company stock valued at $4,849,137. Corporate insiders own 0.12% of the company’s stock.

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.