Sally Wallace Sells 8,353 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS) EVP Sally Wallace sold 8,353 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.84, for a total value of $274,312.52. Following the completion of the sale, the executive vice president now directly owns 55,160 shares in the company, valued at approximately $1,811,454.40. This represents a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Leonardo DRS Stock Down 3.6 %

NASDAQ:DRS opened at $33.69 on Friday. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99. The stock’s 50 day moving average price is $32.93 and its two-hundred day moving average price is $31.97. 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 (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 firm had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. Equities research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its Board of Directors has approved a stock buyback program on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports 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 report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Leonardo DRS has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after acquiring an additional 263,002 shares during the period. FMR LLC boosted its stake in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares during the period. Geode Capital Management LLC boosted its stake in shares of Leonardo DRS by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after acquiring an additional 51,014 shares during the period. First Trust Advisors LP boosted its stake in shares of Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after acquiring an additional 278,541 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Leonardo DRS by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock valued at $46,274,000 after purchasing an additional 166,936 shares during the period. 18.76% of the stock is currently owned by institutional investors.

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.