Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 73.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,274 shares of the company’s stock after selling 161,969 shares during the period. Jane Street Group LLC’s holdings in Leonardo DRS were worth $1,883,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings in Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares in the last quarter. Norges Bank acquired a new position in Leonardo DRS during the 4th quarter worth $24,920,000. Teacher Retirement System of Texas grew its holdings in Leonardo DRS by 87.7% during the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock worth $34,495,000 after acquiring an additional 498,979 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock worth $20,081,000 after acquiring an additional 449,642 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Leonardo DRS by 21.2% in the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after buying an additional 278,541 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $1,471,500.00. Following the transaction, the chief executive officer now directly owns 328,404 shares of the company’s stock, valued at $10,738,810.80. This trade represents a 12.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at approximately $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,354 shares of company stock valued at $3,019,773 in the last quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

DRS has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Truist Financial raised their price target on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Leonardo DRS Trading Up 1.7%

Shares of NASDAQ:DRS opened at $41.67 on Friday. Leonardo DRS, Inc. has a fifty-two week low of $22.73 and a fifty-two week high of $43.20. The company has a market cap of $11.09 billion, a PE ratio of 52.75, a P/E/G ratio of 1.41 and a beta of 0.64. The company’s 50-day moving average price is $35.82 and its 200 day moving average price is $34.32. 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 (NASDAQ:DRS) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. During the same period in the previous year, the firm earned $0.14 EPS. Leonardo DRS’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

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

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.09 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. Leonardo DRS’s dividend payout ratio is currently 41.38%.

About Leonardo DRS

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.