US Bancorp DE Has $827,000 Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

US Bancorp DE decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 32.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,602 shares of the company’s stock after selling 12,236 shares during the quarter. US Bancorp DE’s holdings in Leonardo DRS were worth $827,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in Leonardo DRS by 1.1% in the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after purchasing an additional 354 shares in the last quarter. CIBC Asset Management Inc grew its stake in Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after buying an additional 405 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after buying an additional 432 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after acquiring an additional 435 shares during the last quarter. Finally, IFP Advisors Inc boosted 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 worth $63,000 after acquiring an additional 525 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Leonardo DRS Trading Down 0.9 %

Shares of NASDAQ:DRS opened at $30.97 on Tuesday. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 1.41 and a beta of 0.98. 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 12 month low of $19.88 and a 12 month high of $37.99. The company’s fifty day simple moving average is $32.94 and its 200 day simple moving average is $31.77.

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 analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. As a group, research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Leonardo DRS announced that its board has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the transaction, the chief executive officer now owns 189,937 shares of the company’s stock, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the sale, the director now owns 13,262 shares of the company’s stock, valued at $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,770 shares of company stock valued at $2,226,047 in the last quarter. Company insiders own 0.12% 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.