Leonardo DRS (NASDAQ:DRS) Reaches New 1-Year High on Analyst Upgrade

Leonardo DRS, Inc. (NASDAQ:DRS)’s share price hit a new 52-week high during trading 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 traded. The stock had previously closed at $47.57.

A number of other brokerages also recently commented on DRS. The Goldman Sachs Group began coverage on shares of 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. increased their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Morgan Stanley increased their price target on shares of Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Leonardo DRS from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a “buy” rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.86.

Insider Activity

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 value of $295,761.72. Following the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DRS. Steward Partners Investment Advisory LLC grew its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after buying an additional 700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Leonardo DRS by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company’s stock valued at $35,165,000 after acquiring an additional 75,999 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Leonardo DRS during the fourth quarter valued at about $4,304,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Leonardo DRS by 23.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,287 shares of the company’s stock worth $946,000 after acquiring an additional 5,613 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Leonardo DRS in the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Down 0.6%

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 simple moving average of $43.64 and a 200-day simple moving average of $37.09. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 54.47, a P/E/G ratio of 2.76 and a beta of 0.63.

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

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.76%. Leonardo DRS’s dividend payout ratio (DPR) is currently 41.38%.

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.