Zurcher Kantonalbank Zurich Cantonalbank Buys 5,613 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,287 shares of the company’s stock after acquiring an additional 5,613 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Leonardo DRS were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Cerity Partners LLC increased its stake in shares of Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after acquiring an additional 354 shares in the last quarter. CIBC Asset Management Inc increased its stake in Leonardo DRS by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after purchasing an additional 405 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Leonardo DRS by 1.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after purchasing an additional 435 shares in the last quarter. IFP Advisors Inc increased its stake in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Leonardo DRS by 5.2% during the 4th quarter. Stephens Inc. AR now owns 13,308 shares of the company’s stock valued at $430,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on DRS shares. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, March 7th. Finally, Truist Financial boosted their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS currently has an average rating of “Moderate Buy” and an average target price of $34.83.

Insider Buying and Selling

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the sale, the chief operating officer now directly owns 78,334 shares of the company’s stock, valued at $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 189,937 shares in the company, valued at approximately $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 ninety days, insiders have sold 144,360 shares of company stock valued at $4,848,926. 0.12% of the stock is owned by insiders.

Leonardo DRS Price Performance

DRS opened at $33.69 on Friday. The firm’s fifty day moving average price is $32.93 and its two-hundred day moving average price 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. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 1.41 and a beta of 0.98. Leonardo DRS, Inc. has a 1 year low of $19.88 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company 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%. As a group, analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 45.57%.

Leonardo DRS announced that its board has approved a stock buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.