Leonardo DRS, Inc. (NASDAQ:DRS) Receives $34.83 Average PT from Analysts

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.83.

A number of research analysts recently commented on the stock. Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Truist Financial lifted their target price 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.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $32.23 on Thursday. The firm’s 50 day simple moving average is $32.87 and its 200-day simple moving average is $31.84. The company has a market cap of $8.55 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS has a fifty-two week low of $19.88 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The firm had revenue of $981.00 million for the quarter, compared to the consensus estimate of $942.18 million. As a group, equities research analysts predict that Leonardo DRS will post 1.04 EPS for the current year.

Leonardo DRS announced that its Board of Directors has authorized a share buyback program on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, March 13th. Leonardo DRS’s dividend payout ratio (DPR) is presently 45.57%.

Insider Transactions at Leonardo DRS

In other news, Director Eric Salzman sold 3,477 shares of the business’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 sale, the director now directly owns 13,262 shares in the company, valued at approximately $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the sale, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,535 shares of company stock worth $1,941,939. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its stake in Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after purchasing an additional 700 shares during the last quarter. Covestor Ltd raised its stake in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter. IFP Advisors Inc raised its stake in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares during the last quarter. KBC Group NV raised its stake in Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in Leonardo DRS during the 4th quarter valued at $116,000. 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.