Barclays PLC Cuts Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Barclays PLC trimmed its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 17.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,954 shares of the company’s stock after selling 30,377 shares during the quarter. Barclays PLC owned 0.06% of Leonardo DRS worth $4,780,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DRS. Vanguard Group Inc. grew its position in shares of Leonardo DRS by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after buying an additional 263,002 shares in the last quarter. FMR LLC grew its holdings in Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Leonardo DRS by 5.0% in the 4th quarter. Franklin Resources Inc. now owns 1,301,964 shares of the company’s stock valued at $42,066,000 after purchasing an additional 62,395 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Leonardo DRS by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company’s stock valued at $35,165,000 after purchasing an additional 75,999 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock valued at $34,495,000 after purchasing an additional 498,979 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DRS shares. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Finally, Truist Financial boosted their target price on Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Insider Transactions at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Friday, January 31st. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00. Following the transaction, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,360 shares of company stock worth $4,849,137. Company insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Up 1.5 %

DRS opened at $37.25 on Friday. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market capitalization of $9.91 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.73. The business’s 50-day simple moving average is $32.76 and its 200-day simple moving average is $33.11.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company 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%. Analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Leonardo DRS’s payout ratio is 45.57%.

Leonardo DRS declared that its board has initiated a stock buyback program on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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.