Alliancebernstein L.P. Sells 271,541 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Alliancebernstein L.P. trimmed its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,297,998 shares of the company’s stock after selling 271,541 shares during the quarter. Alliancebernstein L.P. owned approximately 1.25% of Leonardo DRS worth $106,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after acquiring an additional 354 shares during the last quarter. CIBC Asset Management Inc raised its position in Leonardo DRS by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after purchasing an additional 405 shares during the last quarter. IFP Advisors Inc lifted its holdings in 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. Stephens Inc. AR grew its position in shares of Leonardo DRS by 5.2% in the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company’s stock worth $430,000 after buying an additional 652 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of 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 buying an additional 700 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Price Performance

Shares of DRS opened at $33.91 on Thursday. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The firm’s 50-day simple moving average is $32.63 and its two-hundred day simple moving average is $32.38. The stock has a market cap of $8.99 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results 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 the consensus estimate of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. Analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, March 13th. Leonardo DRS’s payout ratio is 45.57%.

Leonardo DRS declared that its board has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DRS shares. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Truist Financial raised 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Insider Activity at Leonardo DRS

In related news, Director Eric Salzman sold 3,477 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the transaction, the director now directly owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This represents a 20.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the sale, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,360 shares of company stock valued at $4,848,926. 0.12% of the stock is owned by insiders.

Leonardo DRS 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.