American Century Companies Inc. Has $2.04 Million Position in Leonardo DRS, Inc. (NASDAQ:DRS)

American Century Companies Inc. raised its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,271 shares of the company’s stock after buying an additional 16,608 shares during the period. American Century Companies Inc.’s holdings in Leonardo DRS were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in shares of Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock worth $34,495,000 after acquiring an additional 498,979 shares during the last quarter. Van ECK Associates Corp increased its holdings in Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after purchasing an additional 179,224 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Leonardo DRS in the fourth quarter worth approximately $4,304,000. Finally, Madison Investment Advisors LLC bought a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $3,791,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DRS shares. Truist Financial increased their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. 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. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Insider Buying and Selling

In related news, EVP Sally Wallace sold 8,353 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total value of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. The trade was a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,831 shares of company stock valued at $4,736,350. 0.12% of the stock is owned by company insiders.

Leonardo DRS Stock Up 3.0 %

Shares of NASDAQ:DRS opened at $31.43 on Wednesday. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99. The company has a market capitalization of $8.33 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The business has a fifty day moving average price of $32.16 and a two-hundred day moving average price of $32.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

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, 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 company had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. Leonardo DRS’s payout ratio is currently 45.57%.

Leonardo DRS announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.