Leonardo DRS, Inc. (NASDAQ:DRS) Stock to Pay Quarterly Dividend of $0.09

Leonardo DRS, Inc. (NASDAQ:DRS) declared a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be paid a dividend of $0.09 per share on Wednesday, November 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, November 12th.

Leonardo DRS has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Leonardo DRS to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 24.7%.

Leonardo DRS Price Performance

Shares of DRS opened at $39.64 on Friday. The business’s fifty day moving average is $36.77 and its 200 day moving average is $42.20. Leonardo DRS has a 12-month low of $32.43 and a 12-month high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The stock has a market cap of $10.58 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.14 and a beta of 0.32.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.29 EPS. Leonardo DRS’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Leonardo DRS will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Leonardo DRS

In related news, EVP Jason Rinsky sold 3,864 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total transaction of $177,009.84. Following the transaction, the executive vice president directly owned 23,581 shares in the company, valued at approximately $1,080,245.61. The trade was a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 dated Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total transaction of $755,386.06. Following the transaction, the chief financial officer owned 35,143 shares in the company, valued at approximately $1,306,616.74. This trade represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Leonardo DRS during the 2nd quarter worth approximately $212,883,000. Ieq Capital LLC purchased a new stake in Leonardo DRS in the 2nd quarter worth approximately $8,705,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Leonardo DRS in the 2nd quarter valued at $24,857,000. PDT Partners LLC bought a new position in Leonardo DRS in the 2nd quarter valued at $3,153,000. Finally, Stephens Investment Management Group LLC grew its position in shares of Leonardo DRS by 107.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock valued at $94,308,000 after purchasing an additional 1,098,108 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.

Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.