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

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 26,618 shares of the stock in a transaction that occurred 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 directly owns 68,802 shares of the company’s stock, valued at $2,249,825.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $33.69 on Friday. 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 has a market cap of $8.93 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The stock’s 50-day moving average is $32.93 and its two-hundred day moving average is $31.97. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year 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 for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. Analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Leonardo DRS’s payout ratio is currently 45.57%.

Leonardo DRS announced that its board has authorized a share buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Leonardo DRS

A number of institutional investors have recently bought and sold shares of DRS. FMR LLC raised its position in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares in the last quarter. Norges Bank purchased a new position in Leonardo DRS in the fourth quarter valued at approximately $24,920,000. Teacher Retirement System of Texas raised its holdings in Leonardo DRS by 87.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock worth $34,495,000 after purchasing an additional 498,979 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock worth $20,081,000 after buying an additional 449,642 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Leonardo DRS by 71.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after buying an additional 384,522 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Bank of America raised 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, Truist Financial increased their price target on shares of 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 assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

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.