Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 18.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,502 shares of the company’s stock after selling 2,651 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Leonardo DRS were worth $372,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in Leonardo DRS in the third quarter valued at $1,651,000. Zacks Investment Management acquired a new stake in Leonardo DRS in the 3rd quarter valued at about $1,381,000. Barclays PLC boosted its holdings in Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company’s stock worth $5,032,000 after buying an additional 106,565 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after purchasing an additional 51,014 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 176,326 shares during the period. 18.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Eric Salzman sold 3,477 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the transaction, the director now owns 13,262 shares of the company’s stock, valued at $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the transaction, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,831 shares of company stock valued at $4,736,350. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on DRS. Truist Financial lifted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. 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, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS Stock Up 3.0 %

NASDAQ DRS opened at $31.43 on Wednesday. The firm has a 50-day simple moving average of $32.16 and a 200 day simple moving average of $32.50. 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, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The stock has a market cap of $8.33 billion, a PE ratio of 39.78, a PEG ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $942.18 million. On average, research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its Board of Directors has authorized a share repurchase program on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.09 dividend. 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 dividend payout ratio is presently 45.57%.

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.