Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) Price Target at $43.50

Leonardo DRS, Inc. (NASDAQ:DRS) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $43.50.

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Truist Financial boosted their price objective on shares of Leonardo DRS from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, March 7th.

Leonardo DRS Stock Up 0.8%

Leonardo DRS stock opened at $43.47 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.02 and a debt-to-equity ratio of 0.13. The firm has a market cap of $11.57 billion, a P/E ratio of 49.97, a P/E/G ratio of 2.50 and a beta of 0.63. Leonardo DRS has a twelve month low of $22.73 and a twelve month high of $46.96. The business has a fifty day moving average of $41.46 and a two-hundred day moving average of $35.99.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The company had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Leonardo DRS 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 was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. Leonardo DRS’s dividend payout ratio (DPR) is 41.38%.

Insider Activity at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the transaction, the chief operating officer now owns 137,283 shares of the company’s stock, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director now directly owns 23,882 shares in the company, valued at $1,097,139.08. This trade represents a 21.23% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Leonardo DRS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Leonardo DRS by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock worth $261,656,000 after purchasing an additional 22,990 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Leonardo DRS by 16.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock worth $192,298,000 after buying an additional 804,938 shares during the last quarter. FMR LLC lifted its position in Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares during the last quarter. First Trust Advisors LP raised its stake in Leonardo DRS by 21.2% in the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after purchasing an additional 278,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Leonardo DRS by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock valued at $46,274,000 after buying an additional 166,936 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.