Insider Selling: Leonardo DRS (NASDAQ:DRS) CFO Sells $542,757.47 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 14,317 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $37.91, for a total transaction of $542,757.47. Following the sale, the chief financial officer owned 20,826 shares in the company, valued at $789,513.66. This represents a 40.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dippold also recently made the following trade(s):

• On Wednesday, September 2nd, Michael Dippold sold 20,317 shares of Leonardo DRS stock. The stock was sold at an average price of $37.18, for a total value of $755,386.06.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $33.00 on Friday. Leonardo DRS, Inc. has a 12-month low of $32.43 and a 12-month high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $36.46 and its two-hundred day moving average price is $42.06. The stock has a market cap of $8.80 billion, a PE ratio of 23.84, a P/E/G ratio of 1.90 and a beta of 0.37.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The company 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 firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, analysts expect that Leonardo DRS, Inc. will post 1.52 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Thursday, November 12th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, November 12th. Leonardo DRS’s dividend payout ratio (DPR) is 26.47%.

Wall Street Analyst Weigh In

DRS has been the subject of a number of recent research reports. Weiss Ratings downgraded Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 22nd. Morgan Stanley lifted their target price on Leonardo DRS from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday. Oppenheimer began coverage on Leonardo DRS in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $45.00 price target on the stock. Guggenheim started coverage on Leonardo DRS in a research note on Monday, September 14th. They issued a “buy” rating and a $51.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $51.50.

Hedge Funds Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Leonardo DRS in the second quarter worth $212,883,000. Bank of America Corp DE purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at $24,941,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at $24,857,000. Bank of New York Mellon Corp purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at $21,437,000. Finally, Ieq Capital LLC bought a new stake in shares of Leonardo DRS during the 2nd quarter worth $8,705,000. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Company Profile

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.