Leonardo DRS, Inc. (NASDAQ:DRS) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP boosted its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 340.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,046 shares of the company’s stock after purchasing an additional 41,769 shares during the period. Marshall Wace LLP’s holdings in Leonardo DRS were worth $1,746,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DRS. Zacks Investment Management grew its holdings in Leonardo DRS by 26.7% during the 4th quarter. Zacks Investment Management now owns 61,974 shares of the company’s stock worth $2,002,000 after acquiring an additional 13,051 shares in the last quarter. EAM Global Investors LLC acquired a new position in Leonardo DRS during the 4th quarter worth $3,526,000. XTX Topco Ltd acquired a new position in Leonardo DRS during the 4th quarter worth $384,000. Mariner LLC bought a new position in shares of Leonardo DRS in the 4th quarter worth about $222,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Leonardo DRS by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after buying an additional 489 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DRS shares. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. Truist Financial raised their price target on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $36.73 on Tuesday. Leonardo DRS, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The business has a 50 day simple moving average of $32.90 and a 200 day simple moving average of $33.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data 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. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The business had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

Leonardo DRS announced that its board has authorized a stock repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the transaction, the chief operating officer now directly owns 137,283 shares of the company’s stock, valued at approximately $4,387,564.68. This trade represents a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the firm’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. This represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,360 shares of company stock valued at $4,849,137. 0.12% of the stock is owned by corporate insiders.

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.