Bank of Montreal Can Increases Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Bank of Montreal Can raised its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,380 shares of the company’s stock after buying an additional 379 shares during the quarter. Bank of Montreal Can’s holdings in Leonardo DRS were worth $594,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock valued at $256,377,000 after purchasing an additional 263,002 shares during the last quarter. FMR LLC lifted its stake in Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock valued at $111,715,000 after acquiring an additional 2,236,661 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after acquiring an additional 51,014 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Leonardo DRS by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 1,301,964 shares of the company’s stock worth $42,066,000 after purchasing an additional 62,395 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Leonardo DRS by 7.5% in the fourth 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. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, SVP Pamela Morrow sold 8,854 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 17,335 shares of the company’s stock, valued at $569,281.40. This trade represents a 33.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,360 shares of company stock worth $4,849,137. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $36.46 on Monday. The stock has a market capitalization of $9.70 billion, a P/E ratio of 46.15, a P/E/G ratio of 1.41 and a beta of 0.73. The company’s fifty day moving average price is $32.23 and its 200 day moving average price is $32.94. 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 1 year low of $19.88 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. As a group, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 13th. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DRS. 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 report on Friday, March 7th. Truist Financial boosted their target price on shares of Leonardo DRS from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, Leonardo DRS presently has an average rating of “Moderate Buy” and an average target price of $35.33.

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.