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 the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $274,312.52. Following the sale, the executive vice president now directly owns 55,160 shares in the company, valued at $1,811,454.40. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Leonardo DRS Trading Up 5.4 %

DRS traded up $1.80 during trading on Wednesday, reaching $34.95. 1,133,968 shares of the company’s stock were exchanged, compared to its average volume of 616,238. The company’s fifty day moving average price is $32.89 and its 200-day moving average price is $31.94. The firm has a market capitalization of $9.27 billion, a PE ratio of 44.24, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. 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 (NASDAQ:DRS) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating 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 business had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. As a group, equities analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS announced that its board has approved a share repurchase program on Thursday, February 20th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on DRS. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Truist Financial upped their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. 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 assigned a buy rating to the company. According to MarketBeat, Leonardo DRS presently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DRS. Cerity Partners LLC lifted its position in shares of Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after purchasing an additional 354 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock valued at $594,000 after purchasing an additional 379 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Leonardo DRS by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after purchasing an additional 405 shares in the last quarter. Glenmede Trust Co. NA raised its position in Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after acquiring an additional 435 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in Leonardo DRS by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after acquiring an additional 489 shares during the period. 18.76% of the stock is owned by institutional investors.

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.