Leonardo DRS, Inc. (NASDAQ:DRS) Shares Acquired by Meitav Investment House Ltd.

Meitav Investment House Ltd. lifted its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,940 shares of the company’s stock after buying an additional 2,064 shares during the quarter. Meitav Investment House Ltd.’s holdings in Leonardo DRS were worth $418,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Leonardo DRS by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock valued at $23,809,000 after buying an additional 179,224 shares during the period. Jennison Associates LLC raised its stake in shares of Leonardo DRS by 31.0% in the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock valued at $1,055,000 after acquiring an additional 7,728 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Leonardo DRS by 4.9% in 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 period. Franklin Resources Inc. grew its stake in Leonardo DRS by 16.6% during the 3rd 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 in the last quarter. Finally, Citigroup Inc. increased its holdings in Leonardo DRS by 46.2% during the 3rd quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock worth $5,537,000 after purchasing an additional 62,042 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Price Performance

DRS stock opened at $31.15 on Friday. The business has a 50 day moving average price of $33.67 and a 200 day moving average price of $31.49. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.30 and a beta of 1.01. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99.

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, topping the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. Equities research analysts anticipate that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.16%.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Robert W. Baird increased their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the transaction, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.81, for a total transaction of $122,844.49. Following the transaction, the chief operating officer now owns 74,805 shares of the company’s stock, valued at approximately $2,603,962.05. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,089 shares of company stock worth $5,178,619 in the last quarter. 0.12% of the stock is owned by 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.