Leonardo DRS, Inc. (NASDAQ:DRS) Receives $53.60 Average PT from Analysts

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have earned an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two 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 $53.1667.

DRS has been the subject of several recent analyst reports. Guggenheim started coverage on shares of Leonardo DRS in a research note on Monday, September 14th. They issued a “buy” rating and a $51.00 target price for the company. JPMorgan Chase & Co. raised their target price on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th.

Insider Activity at Leonardo DRS

In other news, EVP Jason Rinsky sold 3,865 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $45.37, for a total transaction of $175,355.05. Following the completion of the transaction, the executive vice president directly owned 27,445 shares in the company, valued at $1,245,179.65. The trade was a 12.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total transaction of $755,386.06. Following the completion of the transaction, the chief financial officer directly owned 35,143 shares of the company’s stock, valued at approximately $1,306,616.74. This represents a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,046 shares of company stock valued at $1,107,751. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently made changes to their positions in DRS. Global Retirement Partners LLC purchased a new position in Leonardo DRS in the 2nd quarter worth approximately $31,000. Edmond DE Rothschild Holding S.A. bought a new stake in Leonardo DRS in the second quarter worth $32,000. Leonteq Securities AG purchased a new stake in shares of Leonardo DRS during the fourth quarter valued at approximately $34,000. Fifth Third Bancorp purchased a new stake in shares of Leonardo DRS during the first quarter valued at $41,000. Finally, Root Financial Partners LLC boosted its holdings in Leonardo DRS by 426.0% in the first quarter. Root Financial Partners LLC now owns 1,194 shares of the company’s stock worth $53,000 after purchasing an additional 967 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $37.19 on Monday. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.29 and a beta of 0.35. The firm’s fifty day moving average price is $41.94 and its two-hundred day moving average price is $43.81. Leonardo DRS has a 1-year low of $32.43 and a 1-year high of $50.59. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities research analysts predict that Leonardo DRS will post 1.37 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a $0.09 dividend. The ex-dividend date was Thursday, August 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s payout ratio is presently 30.25%.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and manufactures advanced products and systems for the U.S. Department of Defense, other government agencies and allied military customers. The company supports land, sea and air platforms as well as command, control, communications, computers, intelligence, surveillance and reconnaissance missions.

Its offerings include electro-optical and infrared sensing systems, network computing and communications equipment, electronic warfare technologies, power and propulsion systems, thermal management solutions, force protection products and advanced battle-management systems.