Leonardo DRS, Inc. (NASDAQ:DRS) Given Average Rating of “Buy” by Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the stock, 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 brokerages that have issued ratings on the stock in the last year is $53.1667.

A number of research firms recently commented on DRS. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Guggenheim assumed coverage on shares of Leonardo DRS in a research note on Monday. They set a “buy” rating and a $51.00 price target on the stock.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $37.19 on Monday. The business has a 50 day simple moving average of $41.94 and a 200 day simple moving average of $43.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.56. The company has a market capitalization of $9.93 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 2.29 and a beta of 0.35. Leonardo DRS has a one year low of $32.43 and a one year high of $50.59.

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 the consensus estimate of $0.27 by $0.08. The business 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 quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, sell-side analysts forecast that Leonardo DRS will post 1.37 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

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

Insider Transactions at Leonardo DRS

In other news, EVP Jason Rinsky sold 3,865 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $45.37, for a total value of $175,355.05. Following the transaction, the executive vice president owned 27,445 shares of the company’s stock, valued at approximately $1,245,179.65. This trade represents a 12.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of Leonardo DRS 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 sale, the chief financial officer 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,046 shares of company stock worth $1,107,751. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Leonardo DRS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in Leonardo DRS by 4.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,228 shares of the company’s stock worth $246,000 after acquiring an additional 322 shares in the last quarter. Stephens Inc. AR raised its position in shares of Leonardo DRS by 3.3% during the fourth quarter. Stephens Inc. AR now owns 12,165 shares of the company’s stock worth $415,000 after purchasing an additional 389 shares during the period. IFP Advisors Inc lifted its holdings in shares of Leonardo DRS by 26.9% during the 2nd quarter. IFP Advisors Inc now owns 2,030 shares of the company’s stock valued at $87,000 after purchasing an additional 430 shares in the last quarter. Amundi lifted its holdings in shares of Leonardo DRS by 4.4% during the 1st quarter. Amundi now owns 12,124 shares of the company’s stock valued at $540,000 after purchasing an additional 507 shares in the last quarter. Finally, Essential Partners LLC grew its position in shares of Leonardo DRS by 68.7% in the 1st quarter. Essential Partners LLC now owns 1,302 shares of the company’s stock valued at $58,000 after purchasing an additional 530 shares during the period. 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 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.