Symmetry Investments LP Purchases Shares of 15,200 Leonardo DRS, Inc. (NASDAQ:DRS)

Symmetry Investments LP acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,200 shares of the company’s stock, valued at approximately $491,000.

Several other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in Leonardo DRS by 1.1% in the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock valued at $1,112,000 after acquiring an additional 359 shares during the period. Bank of Montreal Can increased its holdings in shares of Leonardo DRS by 2.1% during the 4th 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 stake in shares of Leonardo DRS by 5.3% in the 4th 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 during the period. Summit Investment Advisors Inc. boosted its holdings in Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after buying an additional 489 shares in the last quarter. Finally, IFP Advisors Inc grew its position in 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 period. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America upgraded 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 report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, Truist Financial raised their price objective on Leonardo DRS from $37.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Leonardo DRS presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Insider Activity at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,360 shares of company stock valued at $4,849,137. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $35.14 on Wednesday. The stock has a 50 day moving average of $32.31 and a two-hundred day moving average of $32.98. Leonardo DRS, Inc. has a 12 month low of $19.88 and a 12 month high of $37.99. The firm has a market cap of $9.35 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

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

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Leonardo DRS’s payout ratio is presently 45.57%.

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

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.