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

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

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 Price Performance

Shares of NASDAQ DRS opened at $33.69 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $31.97. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating 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 firm had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. Analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Leonardo DRS’s payout ratio is 45.57%.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC lifted its position in shares of Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after acquiring an additional 354 shares in the last quarter. Bank of Montreal Can lifted its holdings in Leonardo DRS by 2.1% during the 4th quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after purchasing an additional 379 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after purchasing an additional 405 shares during the period. Glenmede Trust Co. NA increased its position in shares of Leonardo DRS by 1.3% during the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after buying an additional 435 shares during the period. Finally, Summit Investment Advisors Inc. increased its position in shares of Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock valued at $249,000 after buying an additional 489 shares during the period. 18.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DRS shares. Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on 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 raised their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.83.

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.