Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sells 8,353 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of Leonardo DRS stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $274,312.52. Following the completion of the transaction, the executive vice president now owns 55,160 shares of the company’s stock, valued at $1,811,454.40. The trade was a 13.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Leonardo DRS Trading Up 5.4 %

NASDAQ:DRS traded up $1.80 during midday trading on Wednesday, reaching $34.95. 1,133,968 shares of the stock traded hands, compared to its average volume of 616,238. The company has a fifty day moving average of $32.89 and a 200 day moving average of $31.94. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. 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 has a market capitalization of $9.27 billion, a P/E ratio of 44.24, a PEG ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last issued 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. The business had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. On average, research analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is presently 45.57%.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Truist Financial boosted their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Institutional Trading of Leonardo DRS

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its position in shares of Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc grew its position 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 during the period. KBC Group NV grew its position in 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 last quarter. Virtus Fund Advisers LLC bought a new stake in Leonardo DRS during the 4th quarter valued at about $116,000. Finally, Point72 Hong Kong Ltd bought a new stake in Leonardo DRS during the 3rd quarter valued at about $109,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

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.