Leonardo DRS (NASDAQ:DRS) Price Target Raised to $40.00 at Truist Financial

Leonardo DRS (NASDAQ:DRS) had its price objective hoisted by Truist Financial from $37.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on DRS. Bank of America raised shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Leonardo DRS presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $36.46 on Thursday. The stock has a fifty day moving average price of $32.19 and a 200 day moving average price of $32.84. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS has a 52 week low of $19.88 and a 52 week high of $37.99. The firm has a market capitalization of $9.70 billion, a P/E ratio of 46.15, a PEG ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Thursday, February 20th. 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 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Equities research analysts anticipate that Leonardo DRS will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.36 annualized dividend and a yield of 0.99%. Leonardo DRS’s dividend payout ratio is currently 45.57%.

Leonardo DRS declared that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the sale, the chief executive officer now directly owns 189,937 shares in the company, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,360 shares of company stock worth $4,849,137. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DRS. Cerity Partners LLC lifted its holdings in Leonardo DRS by 1.1% in the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after buying an additional 359 shares in the last quarter. Bank of Montreal Can increased its position in shares of Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after acquiring an additional 379 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Leonardo DRS by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock worth $260,000 after acquiring an additional 405 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Leonardo DRS by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after acquiring an additional 489 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after purchasing an additional 525 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

About Leonardo DRS

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.