Leonardo DRS, Inc. (NASDAQ:DRS – Get Free Report) has been assigned an average rating of “Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $51.50.
A number of brokerages have recently commented on DRS. Guggenheim initiated coverage on Leonardo DRS in a report on Monday, September 14th. They issued a “buy” rating and a $51.00 target price for the company. Oppenheimer started coverage on Leonardo DRS in a research report on Thursday, October 22nd. They set an “outperform” rating and a $45.00 target price on the stock. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Leonardo DRS in a report on Monday, November 2nd. Zacks Research upgraded Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Finally, Morgan Stanley raised their price target on Leonardo DRS from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd.
Get Our Latest Report on Leonardo DRS
Leonardo DRS Stock Up 3.2%
Shares of NASDAQ:DRS opened at $34.04 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. Leonardo DRS has a 12 month low of $32.39 and a 12 month high of $50.59. The company has a 50-day moving average price of $36.36 and a 200 day moving average price of $42.02. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.82 and a beta of 0.37.
Leonardo DRS (NASDAQ:DRS – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. Leonardo DRS had a return on equity of 14.33% and a net margin of 9.40%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Leonardo DRS will post 1.52 earnings per share for the current year.
Leonardo DRS Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Leonardo DRS’s payout ratio is 26.47%.
Insider Buying and Selling at Leonardo DRS
In other news, CFO Michael Dippold sold 14,317 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $37.91, for a total value of $542,757.47. Following the sale, the chief financial officer owned 20,826 shares of the company’s stock, valued at approximately $789,513.66. This represents a 40.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.25% of the company’s stock.
Hedge Funds Weigh In On Leonardo DRS
Several hedge funds have recently added to or reduced their stakes in DRS. Global Retirement Partners LLC purchased a new stake in Leonardo DRS in the 2nd quarter worth about $31,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Leonardo DRS during the second quarter valued at approximately $32,000. CX Institutional boosted its position in shares of Leonardo DRS by 1,617.9% during the third quarter. CX Institutional now owns 962 shares of the company’s stock valued at $35,000 after buying an additional 906 shares during the period. Fifth Third Bancorp purchased a new position in shares of Leonardo DRS during the first quarter valued at approximately $41,000. Finally, Root Financial Partners LLC bought a new position in shares of Leonardo DRS during the third quarter valued at approximately $47,000. 18.76% of the stock is currently owned by institutional investors.
About Leonardo DRS
Leonardo DRS, Inc is a U.S.-based defense technology company and a subsidiary of the Italian aerospace and defense group Leonardo S.p.A. It develops and supplies advanced products and services for the U.S. military and other government and commercial customers.
The company’s offerings include naval power and propulsion systems, combat and mission systems, electro-optical and infrared sensors, electronic warfare and communications equipment, and computing and networking technologies. Its products support operations across maritime, land, air and space domains.
Leonardo DRS traces its roots to DRS Technologies, founded in 1969.
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