Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) PT at $53.60

Leonardo DRS, Inc. (NASDAQ:DRS) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.1667.

A number of research firms have issued reports on DRS. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Guggenheim started coverage on shares of Leonardo DRS in a research report on Monday. They set a “buy” rating and a $51.00 price target for the company.

Leonardo DRS Trading Up 0.6%

DRS stock opened at $37.09 on Monday. The company has a market cap of $9.90 billion, a P/E ratio of 31.17, a PEG ratio of 2.27 and a beta of 0.35. Leonardo DRS has a twelve month low of $32.43 and a twelve month high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $42.23 and a 200-day moving average of $43.91.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 return on equity of 12.97% and a net margin of 8.52%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. As a group, equities research analysts expect that Leonardo DRS will post 1.37 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders 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 presently 30.25%.

Insiders Place Their Bets

In other Leonardo DRS news, EVP Jason Rinsky sold 3,864 shares of Leonardo DRS stock in a transaction on 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 owned 23,581 shares of the company’s stock, valued at approximately $1,080,245.61. The trade was a 14.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on 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 owned 35,143 shares of the company’s stock, valued at $1,306,616.74. The trade was a 36.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,046 shares of company stock valued at $1,107,751 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Leonardo DRS in the 2nd quarter valued at $212,883,000. Norges Bank bought a new position in Leonardo DRS during the fourth quarter worth about $37,481,000. Stephens Investment Management Group LLC grew its stake in Leonardo DRS by 107.6% in the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock valued at $94,308,000 after acquiring an additional 1,098,108 shares during the period. Bank of America Corp DE acquired a new position in Leonardo DRS in the second quarter valued at about $24,941,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Leonardo DRS in the second quarter worth about $24,857,000. 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.