Leonardo DRS (NASDAQ:DRS) Sets New 12-Month High on Analyst Upgrade

Leonardo DRS, Inc. (NASDAQ:DRS) reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $45.00 to $51.00. Truist Financial currently has a buy rating on the stock. Leonardo DRS traded as high as $48.63 and last traded at $47.34, with a volume of 3156 shares. The stock had previously closed at $47.57.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a report on Friday, June 27th. The Goldman Sachs Group initiated coverage on Leonardo DRS in a research report on Monday, June 30th. They set a “buy” rating and a $49.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, June 16th. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley upped their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.86.

Insider Activity at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the transaction, the director owned 23,882 shares of the company’s stock, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Leonardo DRS by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock worth $261,656,000 after purchasing an additional 22,990 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Leonardo DRS by 16.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock worth $192,298,000 after buying an additional 804,938 shares during the last quarter. FMR LLC boosted its stake in shares of Leonardo DRS by 183.2% during the 4th 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 in the last quarter. First Trust Advisors LP increased its holdings in shares of Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock valued at $51,505,000 after acquiring an additional 278,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Leonardo DRS by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company’s stock valued at $46,274,000 after acquiring an additional 166,936 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Trading Down 0.8%

The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $43.89 and a two-hundred day moving average of $37.27.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $736.72 million. During the same period in the previous year, the company earned $0.14 earnings per share. Leonardo DRS’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS’s dividend payout ratio is currently 41.38%.

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.