Loomis Sayles & Co. L P Reduces Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Loomis Sayles & Co. L P trimmed its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 96.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,145 shares of the company’s stock after selling 34,744 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Leonardo DRS were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRS. Steward Partners Investment Advisory LLC lifted its position 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 valued at $32,000 after purchasing an additional 700 shares during the period. IFP Advisors Inc lifted its holdings 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 valued at $63,000 after buying an additional 525 shares during the period. KBC Group NV boosted its stake in shares of Leonardo DRS by 42.0% in the fourth quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after buying an additional 1,086 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Leonardo DRS during the third quarter worth about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Leonardo DRS in the third quarter valued at approximately $113,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Activity

In related news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, the chief operating officer now owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sally Wallace sold 8,353 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the sale, the executive vice president now directly owns 55,160 shares of the company’s stock, valued at approximately $1,811,454.40. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,360 shares of company stock worth $4,848,926 over the last three months. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America upgraded 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 note on Friday, March 7th. Truist Financial raised their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Leonardo DRS Stock Up 0.2 %

DRS opened at $32.88 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The company has a market cap of $8.72 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a 50-day moving average price of $32.77 and a 200 day moving average price of $32.34.

Leonardo DRS (NASDAQ:DRS) last released 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 return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. Sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its board has authorized a share repurchase program on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

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.