Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold Sells 26,618 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 26,618 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $870,408.60. Following the transaction, the chief financial officer now owns 68,802 shares of the company’s stock, valued at approximately $2,249,825.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS traded up $1.80 on Wednesday, reaching $34.95. The company’s stock had a trading volume of 1,133,968 shares, compared to its average volume of 616,238. The stock’s 50-day moving average is $32.89 and its two-hundred day moving average is $31.94. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. 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 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 announced its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The business had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $942.18 million. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS announced that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Leonardo DRS Dividend Announcement

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 issued a $0.09 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. Leonardo DRS’s payout ratio is 45.57%.

Wall Street Analysts Forecast Growth

DRS has been the subject of several research analyst reports. JPMorgan Chase & Co. upped 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. 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 research note on Friday, March 7th. Finally, Truist Financial upped their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its holdings in Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. IFP Advisors Inc raised its holdings in Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV raised its holdings in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Leonardo DRS during the third quarter worth about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Leonardo DRS during the third quarter worth about $113,000. 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.