Sequoia Financial Advisors LLC Purchases Shares of 6,787 Leonardo DRS, Inc. (NASDAQ:DRS)

Sequoia Financial Advisors LLC purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,787 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in shares of Leonardo DRS by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after purchasing an additional 179,224 shares during the period. Jennison Associates LLC raised its position in shares of Leonardo DRS by 31.0% during the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock worth $1,055,000 after purchasing an additional 7,728 shares during the period. Janus Henderson Group PLC raised its position in shares of Leonardo DRS by 4.9% during the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock worth $8,236,000 after purchasing an additional 13,613 shares during the period. Illumine Investment Management LLC acquired a new position in shares of Leonardo DRS during the fourth quarter worth approximately $1,784,000. Finally, Franklin Resources Inc. raised its position in shares of Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRS has been the subject of a number of analyst reports. Truist Financial increased their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $34.83.

Leonardo DRS Stock Down 3.6 %

Shares of NASDAQ:DRS opened at $33.69 on Friday. The company has a market capitalization of $8.93 billion, a PE ratio of 42.65, 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 current ratio of 2.11 and a quick ratio of 1.70. The business has a fifty day moving average price of $32.93 and a two-hundred day moving average price of $31.97. 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 quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. Analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Leonardo DRS’s payout ratio is 45.57%.

Leonardo DRS announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Leonardo DRS

In other news, CFO Michael Dippold sold 26,618 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $870,408.60. Following the completion of the transaction, the chief financial officer now owns 68,802 shares in the company, valued at approximately $2,249,825.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the stock in a transaction 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 transaction, the director now owns 13,262 shares of the company’s stock, valued at $458,732.58. The trade was a 20.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,360 shares of company stock worth $4,848,926. 0.12% of the stock is owned by company insiders.

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.