Leonardo DRS, Inc. Announces Quarterly Dividend of $0.09 (NASDAQ:DRS)

Leonardo DRS, Inc. (NASDAQ:DRS) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.09 per share on Thursday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.16%.

Leonardo DRS Stock Up 5.4 %

Shares of NASDAQ:DRS opened at $31.15 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a market capitalization of $8.23 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. The firm’s 50-day moving average is $33.67 and its two-hundred day moving average is $31.49. Leonardo DRS has a 1 year low of $19.88 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. Analysts predict that Leonardo DRS will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DRS shares. Truist Financial upped their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird upped their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity at Leonardo DRS

In other news, Director Eric Salzman sold 3,477 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the sale, the director now directly owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Dippold sold 25,880 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the sale, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,089 shares of company stock valued at $5,178,619 over the last three months. 0.12% of the stock is owned by corporate insiders.

Leonardo DRS announced that its board has authorized a share buyback program on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.