Leonardo DRS, Inc. (NASDAQ:DRS) CFO Sells $870,408.60 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 26,618 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value of $870,408.60. Following the sale, the chief financial officer now directly owns 68,802 shares in the company, valued at $2,249,825.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $33.00 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The firm has a market cap of $8.75 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.41 and a beta of 0.98. The business’s fifty day moving average is $32.93 and its two-hundred day moving average is $32.00. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted 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. The company 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 forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price target 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, Truist Financial boosted their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Hedge Funds Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc raised its position in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after acquiring an additional 525 shares during the last quarter. KBC Group NV raised its position in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after acquiring an additional 771 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Leonardo DRS during the third quarter worth $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Leonardo DRS during the third quarter worth $113,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.