Charles Schwab Investment Management Inc. Purchases 75,999 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Charles Schwab Investment Management Inc. increased its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 7.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,088,369 shares of the company’s stock after buying an additional 75,999 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Leonardo DRS were worth $35,165,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DRS. Van ECK Associates Corp increased its position in shares of Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock valued at $23,809,000 after purchasing an additional 179,224 shares during the last quarter. Jennison Associates LLC increased its holdings in Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock worth $1,055,000 after acquiring an additional 7,728 shares during the last quarter. Janus Henderson Group PLC raised its stake in Leonardo DRS by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after acquiring an additional 13,613 shares during the period. Franklin Resources Inc. raised its stake in Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares during the period. Finally, Illumine Investment Management LLC bought a new stake in Leonardo DRS in the 4th quarter valued at about $1,784,000. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Stock Up 2.8 %

Shares of NASDAQ DRS opened at $32.23 on Monday. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 1.41 and a beta of 0.98. The business has a 50-day moving average of $32.87 and a 200-day moving average of $31.87.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping 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 company had revenue of $981.00 million during the quarter, compared to analyst estimates 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Truist Financial boosted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Insiders Place Their Bets

In other news, CEO William Lynn III sold 45,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the stock in a transaction that occurred 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 directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,535 shares of company stock valued at $1,941,939 over the last quarter. 0.12% of the stock is owned by corporate insiders.

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.