Caisse Des Depots ET Consignations Takes $529,000 Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Caisse Des Depots ET Consignations bought a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,382 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds also recently made changes to their positions in DRS. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Leonardo DRS during the 3rd quarter valued at about $402,000. Intech Investment Management LLC bought a new position in Leonardo DRS during the third quarter worth about $407,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Leonardo DRS by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after buying an additional 82,049 shares in the last quarter. Citigroup Inc. raised its stake in shares of Leonardo DRS by 46.2% during the 3rd quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock valued at $5,537,000 after purchasing an additional 62,042 shares during the period. Finally, Cerity Partners LLC lifted its stake in Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after purchasing an additional 354 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Pamela Morrow sold 8,854 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $32.84, for a total transaction of $290,765.36. Following the sale, the senior vice president now directly owns 17,335 shares in the company, valued at approximately $569,281.40. This represents a 33.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Salzman sold 3,477 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 144,360 shares of company stock valued at $4,848,926 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DRS. Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS Trading Down 1.1 %

Shares of DRS stock opened at $33.47 on Friday. The company has a 50 day moving average price of $32.88 and a 200 day moving average price of $32.18. The stock has a market capitalization of $8.87 billion, a P/E ratio of 42.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. 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 announced its 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. The business had revenue of $981.00 million for the quarter, compared to analysts’ expectations of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. Equities research analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS declared that its board has initiated a share repurchase plan on Thursday, February 20th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders 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 1.08%. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

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.