Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $1,471,500.00. Following the completion of the transaction, the chief executive officer now owns 328,404 shares of the company’s stock, valued at approximately $10,738,810.80. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

William Lynn III also recently made the following trade(s):

• On Friday, January 31st, William Lynn III sold 45,000 shares of Leonardo DRS stock. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00.

Leonardo DRS Trading Up 5.4 %

Shares of NASDAQ:DRS opened at $34.95 on Thursday. The company has a 50 day moving average of $32.93 and a 200-day moving average of $31.96. The firm has a market cap of $9.27 billion, a P/E ratio of 44.24, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve 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.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share 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 analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. As a group, analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

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

Leonardo DRS Dividend Announcement

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

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in Leonardo DRS by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock valued at $23,809,000 after purchasing an additional 179,224 shares during the last quarter. Jennison Associates LLC lifted its stake in Leonardo DRS by 31.0% during the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock valued at $1,055,000 after purchasing an additional 7,728 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Leonardo DRS by 4.9% during the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after purchasing an additional 13,613 shares during the last quarter. Illumine Investment Management LLC acquired a new stake in Leonardo DRS during the fourth quarter valued at approximately $1,784,000. Finally, Franklin Resources Inc. lifted its stake in Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRS has been the subject of several recent analyst reports. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price 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. Finally, Truist Financial upped their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Leonardo DRS presently has an average rating of “Moderate Buy” and a consensus price target of $34.83.

About Leonardo DRS

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.