Boston Partners Sells 26,759 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Boston Partners reduced its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 41.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,586 shares of the company’s stock after selling 26,759 shares during the quarter. Boston Partners’ holdings in Leonardo DRS were worth $1,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DRS. Cerity Partners LLC boosted its holdings in shares of Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after purchasing an additional 354 shares in the last quarter. CIBC Asset Management Inc boosted its position in 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 buying an additional 405 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Leonardo DRS by 1.3% during the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after buying an additional 435 shares during the last quarter. IFP Advisors Inc grew its stake 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 valued at $63,000 after buying an additional 525 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in Leonardo DRS by 5.2% in the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company’s stock worth $430,000 after purchasing an additional 652 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the sale, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at approximately $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Baylouny sold 3,529 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the transaction, the chief operating officer now owns 78,334 shares of the company’s stock, valued at $2,498,854.60. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,360 shares of company stock valued at $4,848,926. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Truist Financial raised their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Leonardo DRS Stock Down 2.0 %

Shares of Leonardo DRS stock opened at $33.00 on Friday. The company’s fifty day simple moving average is $32.93 and its two-hundred day simple moving average is $32.03. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.75 billion, a P/E ratio of 41.77, a PEG ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

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.