Natixis Advisors LLC Reduces Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Natixis Advisors LLC trimmed its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 21.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,144 shares of the company’s stock after selling 8,682 shares during the quarter. Natixis Advisors LLC’s holdings in Leonardo DRS were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DRS. Cerity Partners LLC lifted its holdings in Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after purchasing an additional 354 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after buying an additional 405 shares during 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 worth $958,000 after buying an additional 435 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after acquiring an additional 525 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Leonardo DRS by 5.2% in the fourth quarter. Stephens Inc. AR now owns 13,308 shares of the company’s stock valued at $430,000 after acquiring an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling

In other Leonardo DRS news, 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 value of $1,586,250.00. Following the transaction, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Dippold sold 26,618 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total transaction of $870,408.60. Following the transaction, the chief financial officer now directly owns 68,802 shares of the company’s stock, valued at approximately $2,249,825.40. This trade represents a 27.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,360 shares of company stock worth $4,848,926. Company insiders own 0.12% of the company’s stock.

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 price objective for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their target price 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. Finally, Truist Financial boosted their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Leonardo DRS Stock Up 1.2 %

Shares of DRS opened at $34.35 on Wednesday. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $32.16. The company has a market capitalization of $9.11 billion, a PE ratio of 43.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data 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 firm had revenue of $981.00 million during the quarter, compared to analysts’ expectations 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 analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its board has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its shares are undervalued.

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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s payout ratio is presently 45.57%.

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.