Leonardo DRS, Inc. (NASDAQ:DRS) Stock Has Consensus Target Price of $53.17 According to Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research 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 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.17.

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

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS opened at $36.24 on Friday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 2.23 and a beta of 0.32. Leonardo DRS has a 1-year low of $32.43 and a 1-year high of $50.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. The company has a 50 day moving average price of $39.25 and a 200 day moving average price of $42.86.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm 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 previous year, the business posted $0.23 earnings per share. On average, research analysts anticipate that Leonardo DRS will post 1.37 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Leonardo DRS’s dividend payout ratio (DPR) is currently 30.25%.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, EVP Jason Rinsky sold 3,864 shares of the company’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 completion of the sale, the executive vice president directly owned 23,581 shares of the company’s stock, valued at approximately $1,080,245.61. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.18, for a total transaction of $755,386.06. Following the sale, the chief financial officer directly owned 35,143 shares of the company’s stock, valued at $1,306,616.74. This represents a 36.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of large investors have recently made changes to their positions in DRS. BlackRock Inc. purchased a new position in Leonardo DRS during the 2nd quarter worth approximately $212,883,000. Stephens Investment Management Group LLC raised its stake in 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 during the period. Bank of America Corp DE purchased a new stake in shares of Leonardo DRS in the second quarter valued at $24,941,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Leonardo DRS in the second quarter valued at $24,857,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Leonardo DRS by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 517,166 shares of the company’s stock valued at $23,024,000 after purchasing an additional 15,349 shares in the last quarter. Institutional investors and hedge funds 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 systems and equipment for the U.S. military, government agencies and allied defense customers. The company focuses on technologies intended to improve situational awareness, battlefield connectivity, survivability and mission effectiveness.

Its products and services include sensing and surveillance systems, electronic warfare equipment, mission computing, networking and communications technologies, force-protection systems, power conversion and propulsion solutions, and advanced materials.