Leonardo DRS, Inc. (DRS) To Go Ex-Dividend on March 13th

Leonardo DRS, Inc. (NASDAQ:DRS) declared a quarterly dividend on Monday, March 10th, RTT News reports. Investors of record on Thursday, March 13th will be paid a dividend of 0.09 per share on Thursday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, March 13th.

Leonardo DRS has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Leonardo DRS to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 30.0%.

Leonardo DRS Price Performance

DRS stock opened at $30.97 on Tuesday. The firm has a market cap of $8.21 billion, a P/E ratio of 39.20, a P/E/G ratio of 1.41 and a beta of 0.98. The firm’s fifty day moving average is $32.94 and its 200 day moving average is $31.77. Leonardo DRS has a 52 week low of $19.88 and a 52 week high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Truist Financial upped 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, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

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

Insiders Place Their Bets

In other Leonardo DRS news, 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 in the company, valued at approximately $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the sale, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,770 shares of company stock worth $2,226,047 over the last three months. Company insiders own 0.12% of the company’s stock.

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.