Leonardo DRS, Inc. (NASDAQ:DRS) Receives $33.00 Average Price Target from Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.17.

DRS has been the subject of several analyst reports. Truist Financial increased their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Robert W. Baird boosted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st.

Insider Buying and Selling

In related news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.81, for a total transaction of $122,844.49. Following the sale, the chief operating officer now directly owns 74,805 shares in the company, valued at $2,603,962.05. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the stock in a transaction 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 transaction, the director now owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,089 shares of company stock valued at $5,178,619 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of Leonardo DRS

A number of hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new position in Leonardo DRS during the 4th quarter valued at about $570,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Leonardo DRS by 29.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,762 shares of the company’s stock valued at $4,386,000 after purchasing an additional 31,185 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Leonardo DRS by 34.5% during the fourth quarter. Vident Advisory LLC now owns 47,363 shares of the company’s stock valued at $1,530,000 after purchasing an additional 12,153 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Leonardo DRS in the 4th quarter worth approximately $116,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Leonardo DRS in the 4th quarter worth approximately $572,000. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Down 7.5 %

NASDAQ DRS opened at $28.85 on Friday. The firm has a market cap of $7.63 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. Leonardo DRS has a 1-year low of $19.88 and a 1-year high of $37.99. The stock has a 50-day moving average of $33.57 and a 200-day moving average of $31.54. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. As a group, sell-side analysts forecast that Leonardo DRS will post 1.04 EPS for the current year.

Leonardo DRS declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.09 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.25%. Leonardo DRS’s dividend payout ratio is 45.57%.

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.