Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells $1,471,500.00 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 328,404 shares in the company, valued at approximately $10,738,810.80. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 $33.00 on Friday. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 1.41 and a beta of 0.98. The business has a 50 day moving average price of $32.93 and a 200 day moving average price of $32.00. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

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

Analysts Set New Price Targets

Several research firms have commented on DRS. Bank of America raised shares of 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. Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Hedge Funds Weigh In On Leonardo DRS

Large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after purchasing an additional 700 shares during the period. IFP Advisors Inc lifted its position in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares during the period. KBC Group NV boosted its stake in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Leonardo DRS in the 3rd quarter valued at $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leonardo DRS in the 3rd quarter valued at $113,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.