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

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 8,854 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 value of $290,765.36. Following the completion of the transaction, the senior vice president now owns 17,335 shares in the company, valued at approximately $569,281.40. This represents a 33.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Leonardo DRS Stock Up 5.4 %

Shares of DRS stock opened at $34.95 on Thursday. 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 company’s fifty day moving average price is $32.93 and its 200-day moving average price is $31.96. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99.

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

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

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

Wall Street Analyst Weigh In

DRS has been the topic of several recent analyst reports. Truist Financial raised their target price 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. JPMorgan Chase & Co. boosted their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Institutional Trading of Leonardo DRS

Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its holdings 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 valued at $32,000 after buying an additional 700 shares during the period. IFP Advisors Inc lifted its position 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 acquiring an additional 525 shares in the last quarter. KBC Group NV lifted its holdings in Leonardo DRS by 42.5% in 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Leonardo DRS in the third quarter worth about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leonardo DRS in the third quarter valued at approximately $113,000. Hedge funds and other institutional investors own 18.76% 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.