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

Leonardo DRS, Inc. (NASDAQ:DRS) has received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

DRS has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Robert W. Baird boosted their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their price objective 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.

Insider Buying and Selling at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the sale, the chief executive officer now owns 234,937 shares of the company’s stock, valued at approximately $8,004,303.59. This represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS 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 transaction, the senior vice president now directly owns 12,565 shares in the company, valued at approximately $437,387.65. The trade was a 46.90 % decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

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

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $31.15 on Friday. The company’s 50-day moving average price is $33.67 and its 200-day moving average price is $31.49. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The company has a market cap 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. Leonardo DRS has a twelve month low of $19.88 and a twelve month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. On average, equities research analysts forecast that Leonardo DRS will post 0.92 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.16%.

Leonardo DRS declared that its board has approved a stock repurchase 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 generally a sign that the company’s leadership believes its stock is undervalued.

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.