Leonardo DRS, Inc. (NASDAQ:DRS) Stock Now Rated “Buy” by Wall Street Brokerages

Leonardo DRS, Inc. (NASDAQ:DRS) has earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $53.17.

A number of research firms recently issued reports on DRS. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Guggenheim began coverage on Leonardo DRS in a research note on Monday, September 14th. They issued a “buy” rating and a $51.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, July 31st.

Insiders Place Their Bets

In other news, EVP Jason Rinsky sold 3,864 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total value of $177,009.84. Following the transaction, the executive vice president 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 document filed with the SEC, 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 20,317 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total value of $755,386.06. Following the completion of the sale, the chief financial officer owned 35,143 shares in the company, valued at $1,306,616.74. This trade represents a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.25% of the stock is owned by insiders.

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC bought a new stake in Leonardo DRS during the second quarter valued at approximately $31,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Leonardo DRS in the 2nd quarter worth $32,000. Fifth Third Bancorp purchased a new stake in shares of Leonardo DRS during the 1st quarter valued at $41,000. CX Institutional lifted its holdings in shares of Leonardo DRS by 1,617.9% during the 3rd quarter. CX Institutional now owns 962 shares of the company’s stock worth $35,000 after acquiring an additional 906 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in shares of Leonardo DRS by 426.0% during the 1st quarter. Root Financial Partners LLC now owns 1,194 shares of the company’s stock worth $53,000 after acquiring an additional 967 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

DRS opened at $35.16 on Friday. The firm has a 50-day moving average price of $38.85 and a 200-day moving average price of $42.72. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.20 and a beta of 0.32. 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.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $903.27 million. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts expect that Leonardo DRS will post 1.37 EPS for the current year.

Leonardo DRS Dividend Announcement

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

About Leonardo DRS

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.