Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Zacks Investment Management

Zacks Investment Management lifted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,974 shares of the company’s stock after purchasing an additional 13,051 shares during the period. Zacks Investment Management’s holdings in Leonardo DRS were worth $2,002,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Cerity Partners LLC increased its position in shares of 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 acquiring an additional 359 shares in the last quarter. 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 worth $594,000 after purchasing an additional 379 shares during the period. CIBC Asset Management Inc increased its holdings in Leonardo DRS by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after purchasing an additional 405 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Leonardo DRS by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock valued at $249,000 after purchasing an additional 489 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRS has been the subject of a number of recent research reports. Truist Financial upped their price target on Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.33.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $36.46 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99. The firm has a market cap of $9.70 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The firm’s fifty day moving average is $32.23 and its 200-day moving average is $32.89.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. Sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

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. 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 payout ratio is presently 45.57%.

Leonardo DRS declared that its board has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Friday, January 31st. The shares were 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 owns 189,937 shares of the company’s stock, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares in the company, valued at approximately $4,387,564.68. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,360 shares of company stock valued at $4,849,137 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

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.