Leonardo DRS (NASDAQ:DRS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Leonardo DRS (NASDAQ:DRS) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other research firms have also recently issued reports on DRS. Weiss Ratings raised Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Morgan Stanley set a $47.00 price target on Leonardo DRS in a report on Wednesday, February 25th. Truist Financial set a $59.00 price target on Leonardo DRS in a report on Wednesday, February 25th. Finally, Bank of America upped their price target on Leonardo DRS from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.00.

Leonardo DRS Trading Up 0.9%

Shares of NASDAQ:DRS opened at $46.73 on Friday. The company has a 50 day moving average of $43.07 and a 200-day moving average of $39.75. The firm has a market cap of $12.43 billion, a P/E ratio of 45.37, a P/E/G ratio of 3.42 and a beta of 0.43. Leonardo DRS has a twelve month low of $28.17 and a twelve month high of $49.31. The company has a current ratio of 1.89, a quick ratio of 1.60 and a debt-to-equity ratio of 0.12.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Sunday, February 15th. The company reported $0.42 earnings per share for the quarter. Leonardo DRS had a net margin of 7.62% and a return on equity of 11.68%. The company had revenue of $1.06 billion during the quarter. As a group, analysts anticipate that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.36 annualized dividend and a dividend yield of 0.8%. Leonardo DRS’s dividend payout ratio is currently 34.95%.

Insider Activity at Leonardo DRS

In related news, EVP Sally Wallace sold 28,960 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $46.35, for a total value of $1,342,296.00. Following the completion of the sale, the executive vice president owned 58,353 shares in the company, valued at approximately $2,704,661.55. This represents a 33.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 7,071 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $45.38, for a total transaction of $320,881.98. Following the completion of the sale, the chief financial officer owned 63,778 shares of the company’s stock, valued at approximately $2,894,245.64. This trade represents a 9.98% 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. In the last 90 days, insiders sold 64,361 shares of company stock worth $2,944,837. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds have recently made changes to their positions in DRS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Leonardo DRS by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,817 shares of the company’s stock valued at $1,441,000 after acquiring an additional 1,922 shares in the last quarter. Millennium Management LLC lifted its position in shares of Leonardo DRS by 29.0% in the 1st quarter. Millennium Management LLC now owns 369,749 shares of the company’s stock valued at $12,157,000 after acquiring an additional 83,077 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Leonardo DRS by 9.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,474 shares of the company’s stock valued at $4,882,000 after acquiring an additional 12,712 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Leonardo DRS by 18.6% in the 1st quarter. Intech Investment Management LLC now owns 48,560 shares of the company’s stock valued at $1,597,000 after acquiring an additional 7,625 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Leonardo DRS in the 1st quarter valued at approximately $225,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Company Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.