Leonardo DRS (NASDAQ:DRS) Stock: Insider Michael Dippold Sells 14,317 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 14,317 shares of Leonardo DRS stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $37.91, for a total value of $542,757.47. Following the sale, the chief financial officer directly owned 20,826 shares of the company’s stock, valued at approximately $789,513.66. This trade represents a 40.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dippold also recently made the following trade(s):

• On Wednesday, September 2nd, Michael Dippold sold 20,317 shares of Leonardo DRS stock. The shares were sold at an average price of $37.18, for a total value of $755,386.06.

Leonardo DRS Trading Down 8.6%

NASDAQ:DRS opened at $35.52 on Thursday. Leonardo DRS, Inc. has a 1-year low of $32.43 and a 1-year high of $50.59. The business’s 50-day moving average price is $36.57 and its two-hundred day moving average price is $42.11. The company has a current ratio of 1.88, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.08 and a beta of 0.37.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Leonardo DRS had a return on equity of 14.33% and a net margin of 9.40%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. On average, equities analysts expect that Leonardo DRS, Inc. will post 1.52 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Thursday, November 12th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th. Leonardo DRS’s dividend payout ratio (DPR) is currently 26.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paragon Advisors LLC acquired a new position in shares of Leonardo DRS in the third quarter valued at approximately $241,000. Kornitzer Capital Management Inc. KS increased its position in shares of Leonardo DRS by 8.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 113,607 shares of the company’s stock worth $4,161,000 after acquiring an additional 8,848 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Leonardo DRS by 898.9% during the third quarter. Parallel Advisors LLC now owns 6,603 shares of the company’s stock worth $242,000 after acquiring an additional 5,942 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Leonardo DRS during the third quarter worth $216,000. Finally, Covestor Ltd raised its holdings in shares of Leonardo DRS by 14.7% during the third quarter. Covestor Ltd now owns 3,249 shares of the company’s stock worth $119,000 after acquiring an additional 416 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Key Leonardo DRS News

Here are the key news stories impacting Leonardo DRS this week:

• Positive Sentiment: AeroVironment selected Leonardo DRS to support production of the U.S. Army’s LOCUST X3/enduring high-energy laser system, including vehicle integration, power and cooling. The Army’s broader production push is valued at $464.8 million, but DRS’s portion was not specified. U.S. Army LOCUST X3 laser production
• Positive Sentiment: BTIG reaffirmed its Buy rating on DRS, providing continued analyst support. BTIG Research Reaffirms Buy Rating
• Neutral Sentiment: CFO Michael Dippold sold 14,317 shares for about $543,000, reducing his holdings by roughly 41%. The sale was made under a prearranged Rule 10b5-1 plan, which lessens the significance of its timing. CFO share sale
• Neutral Sentiment: DRS appointed Shaveta J. Kapoor as chief human resources officer to lead workforce and leadership initiatives supporting the company’s growth. The announcement did not disclose financial terms or an immediate earnings impact. Appointment of chief human resources officer

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DRS. JPMorgan Chase & Co. lifted their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Zacks Research raised shares of Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Guggenheim assumed coverage on shares of Leonardo DRS in a report on Monday, September 14th. They issued a “buy” rating and a $51.00 target price on the stock. Weiss Ratings cut shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 22nd. Finally, Oppenheimer assumed coverage on shares of Leonardo DRS in a research report on Thursday, October 22nd. They set an “outperform” rating and a $45.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $51.50.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.

Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.