Leonardo DRS (NASDAQ:DRS) Price Target Raised to $33.00

Leonardo DRS (NASDAQ:DRS) had its price target upped by JPMorgan Chase & Co. from $32.00 to $33.00 in a report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. 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. Truist Financial boosted their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.17.

Leonardo DRS Stock Down 7.5 %

Shares of Leonardo DRS stock opened at $28.85 on Friday. The company has a market capitalization of $7.63 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. 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 business has a 50-day moving average of $33.57 and a two-hundred day moving average of $31.58. Leonardo DRS has a 1 year low of $19.88 and a 1 year high of $37.99.

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

Leonardo DRS declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Leonardo DRS Announces Dividend

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

Insiders Place Their Bets

In other news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the completion of the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Pamela Morrow sold 11,100 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $386,391.00. Following the completion of the sale, the senior vice president now owns 12,565 shares in the company, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,089 shares of company stock valued at $5,178,619. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRS. Vanguard Group Inc. lifted its holdings in Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after purchasing an additional 263,002 shares during the last quarter. FMR LLC increased its position in Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares during the period. Geode Capital Management LLC boosted its holdings in Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after purchasing an additional 51,014 shares during the period. First Trust Advisors LP increased its holdings in shares of Leonardo DRS by 21.2% during the fourth quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after purchasing an additional 278,541 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Leonardo DRS by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock worth $46,274,000 after acquiring an additional 166,936 shares during the period. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Company Profile

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.