Leonardo DRS (NASDAQ:DRS) Shares Up 6.3% After Earnings Beat

Leonardo DRS, Inc. (NASDAQ:DRS) traded up 6.3% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $32.39 and last traded at $31.39. 189,849 shares changed hands during trading, a decline of 68% from the average session volume of 599,731 shares. The stock had previously closed at $29.54.

The company reported $0.38 EPS for the quarter, beating 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%.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DRS shares. Robert W. Baird upped their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Insiders Place Their Bets

In other news, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the completion of the sale, the senior vice president now owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Dippold sold 25,880 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the transaction, the chief financial officer now directly owns 47,028 shares in the company, 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 worth $5,178,619 over the last three months. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System increased its holdings in shares of Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after purchasing an additional 432 shares in the last quarter. US Bancorp DE raised its position in shares of Leonardo DRS by 65.8% during the third quarter. US Bancorp DE now owns 37,838 shares of the company’s stock worth $1,068,000 after acquiring an additional 15,020 shares during the last quarter. Stephens Inc. AR raised its position in shares of Leonardo DRS by 7.7% during the third quarter. Stephens Inc. AR now owns 12,656 shares of the company’s stock worth $357,000 after acquiring an additional 907 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Leonardo DRS by 28.2% during the third quarter. Van ECK Associates Corp now owns 557,672 shares of the company’s stock valued at $15,698,000 after acquiring an additional 122,836 shares during the period. Finally, Cannon Global Investment Management LLC boosted its holdings in Leonardo DRS by 58.3% in the third quarter. Cannon Global Investment Management LLC now owns 19,000 shares of the company’s stock valued at $536,000 after acquiring an additional 7,000 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Stock Performance

The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 42.06, a price-to-earnings-growth ratio of 1.30 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 stock has a 50-day moving average of $33.73 and a 200 day moving average of $31.49.

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.