Illumine Investment Management LLC Purchases New Shares in Leonardo DRS, Inc. (NASDAQ:DRS)

Illumine Investment Management LLC acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 55,209 shares of the company’s stock, valued at approximately $1,784,000. Leonardo DRS makes up 1.5% of Illumine Investment Management LLC’s portfolio, making the stock its 27th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter. IFP Advisors Inc lifted its position in Leonardo DRS by 37.0% in 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 during the last quarter. KBC Group NV lifted its position in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Leonardo DRS in the 3rd quarter valued at about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Leonardo DRS in the 3rd quarter valued at about $113,000. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DRS shares. JPMorgan Chase & Co. lifted their price objective 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. Robert W. Baird raised their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their target price 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.17.

Leonardo DRS Stock Performance

DRS stock opened at $29.93 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market cap of $7.91 billion, a P/E ratio of 37.88, a P/E/G ratio of 1.41 and a beta of 1.01. The firm has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $31.58. Leonardo DRS, Inc. has a 52 week low of $19.88 and a 52 week high of $37.99.

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

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, March 13th. Leonardo DRS’s dividend payout ratio is 45.57%.

Leonardo DRS declared that its Board of Directors has approved a share buyback plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Pamela Morrow sold 11,100 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total transaction of $386,391.00. Following the transaction, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. This represents a 46.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,089 shares of company stock valued at $5,178,619 in the last quarter. Insiders own 0.12% of the company’s stock.

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.