Philadelphia Trust Co. Has $16.90 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Philadelphia Trust Co. cut its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 522,894 shares of the company’s stock after selling 8,387 shares during the quarter. Leonardo DRS accounts for about 1.2% of Philadelphia Trust Co.’s portfolio, making the stock its 21st biggest position. Philadelphia Trust Co. owned approximately 0.20% of Leonardo DRS worth $16,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Leonardo DRS by 148.5% during the 3rd 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 lifted its holdings in 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 acquiring an additional 51,014 shares during the period. Franklin Resources Inc. boosted its position in Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Leonardo DRS by 133.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock valued at $4,850,000 after purchasing an additional 98,141 shares during the period. Finally, Oliver Luxxe Assets LLC increased its position in shares of Leonardo DRS by 5.1% during the 4th quarter. Oliver Luxxe Assets LLC now owns 89,612 shares of the company’s stock valued at $2,895,000 after purchasing an additional 4,368 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

Insider Activity at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.81, for a total value of $122,844.49. Following the transaction, the chief operating officer now directly owns 74,805 shares of the company’s stock, valued at $2,603,962.05. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,360 shares of company stock valued at $4,849,137 over the last 90 days. 0.12% of the stock is owned by insiders.

Leonardo DRS Trading Up 3.4 %

Shares of DRS stock opened at $35.10 on Friday. The company has a market capitalization of $9.31 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. The business’s fifty day moving average is $32.10 and its 200 day moving average is $32.65. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS declared that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DRS shares. JPMorgan Chase & Co. boosted their target price 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 increased their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.83.

Leonardo DRS 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.