Illumine Investment Management LLC Takes $1.78 Million Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Illumine Investment Management LLC acquired a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 55,209 shares of the company’s stock, valued at approximately $1,784,000. Leonardo DRS comprises 1.5% of Illumine Investment Management LLC’s holdings, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Leonardo DRS by 2.7% in the third 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 during the period. Franklin Resources Inc. increased its stake in Leonardo DRS by 16.6% in the third 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 during the period. Charles Schwab Investment Management Inc. increased its stake in Leonardo DRS by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after acquiring an additional 82,049 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Leonardo DRS by 71.7% in the third 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 during the period. Finally, Van ECK Associates Corp increased its stake in Leonardo DRS by 32.1% in the fourth 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 during the period. Institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the transaction, the director now owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.81, for a total transaction of $122,844.49. Following the completion of the transaction, the chief operating officer now directly owns 74,805 shares of the company’s stock, valued at approximately $2,603,962.05. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,089 shares of company stock worth $5,178,619 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DRS. JPMorgan Chase & Co. upped their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Robert W. Baird increased their price target 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 increased 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Leonardo DRS Trading Up 0.1 %

DRS opened at $29.93 on Friday. The firm’s fifty day moving average is $33.27 and its two-hundred day moving average is $31.58. 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 firm has a market cap of $7.91 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. Leonardo DRS, Inc. has a twelve month low of $19.88 and a twelve month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million for the quarter, compared to analyst estimates of $942.18 million. Equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Leonardo DRS Dividend Announcement

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