6,787 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the fourth quarter, Holdings Channel.com reports. The fund acquired 6,787 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised 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 in the last quarter. Franklin Resources Inc. raised its holdings in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Leonardo DRS by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company’s stock valued at $35,165,000 after acquiring an additional 75,999 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Leonardo DRS by 71.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after acquiring an additional 384,522 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Leonardo DRS by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock valued at $23,809,000 after acquiring an additional 179,224 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

DRS opened at $33.69 on Friday. The stock’s 50 day simple moving average is $32.93 and its 200 day simple moving average is $31.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. 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 PEG ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results 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 analyst estimates of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. As a group, analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS announced that its board has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Leonardo DRS Dividend Announcement

The firm 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 $0.09 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Insider Transactions at Leonardo DRS

In other news, Director Eric Salzman sold 3,477 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the completion of the sale, the chief executive officer now owns 189,937 shares in the company, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,360 shares of company stock worth $4,848,926. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

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.