Leonardo DRS, Inc. (NASDAQ:DRS) Stock Has Average Price Target of $51.50

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been given a consensus rating of “Buy” by the ten analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $51.50.

A number of research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Zacks Research upgraded Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Leonardo DRS in a report on Monday. Finally, Guggenheim initiated coverage on Leonardo DRS in a research report on Monday, September 14th. They issued a “buy” rating and a $51.00 price objective for the company.

Insider Buying and Selling at Leonardo DRS

In other news, CFO Michael Dippold sold 14,317 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $37.91, for a total value of $542,757.47. Following the completion of the sale, the chief financial officer directly owned 20,826 shares in the company, valued at approximately $789,513.66. This trade represents a 40.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Leonardo DRS during the 2nd quarter worth approximately $212,883,000. Ieq Capital LLC bought a new stake in shares of Leonardo DRS during the second quarter worth approximately $8,705,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Leonardo DRS during the second quarter worth approximately $24,857,000. PDT Partners LLC acquired a new position in Leonardo DRS in the second quarter valued at approximately $3,153,000. Finally, Legal & General Group Plc acquired a new position in Leonardo DRS in the second quarter valued at approximately $2,687,000. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Down 7.1%

Shares of DRS stock opened at $33.00 on Tuesday. Leonardo DRS has a 12-month low of $32.43 and a 12-month high of $50.59. The company has a market capitalization of $8.80 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.90 and a beta of 0.37. The firm has a 50-day moving average price of $36.46 and a 200 day moving average price of $42.06. The company has a quick ratio of 1.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.06.

Leonardo DRS (NASDAQ:DRS) last released 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. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Leonardo DRS had a net margin of 9.40% and a return on equity of 14.33%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Research analysts forecast that Leonardo DRS will post 1.52 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, November 12th. Leonardo DRS’s dividend payout ratio is presently 26.47%.

About Leonardo DRS

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.