Leonardo DRS, Inc. (NASDAQ:DRS) Stock Has Consensus Price Target of $51.50

Leonardo DRS, Inc. (NASDAQ:DRS) has received an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $51.50.

A number of research firms have recently commented on DRS. Guggenheim started coverage on Leonardo DRS in a research report on Monday, September 14th. They set a “buy” rating and a $51.00 price target on the stock. Morgan Stanley boosted their price objective on Leonardo DRS from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Weiss Ratings raised Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, November 4th. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Leonardo DRS in a report on Monday, November 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 31st.

Insider Activity

In related news, CFO Michael Dippold sold 14,317 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $37.91, for a total transaction of $542,757.47. Following the sale, the chief financial officer directly owned 20,826 shares in the company, valued at $789,513.66. This trade represents a 40.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRS. Global Retirement Partners LLC acquired a new stake in shares of Leonardo DRS in the 2nd quarter valued at about $31,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Leonardo DRS during the second quarter worth about $32,000. Fifth Third Bancorp bought a new position in shares of Leonardo DRS during the first quarter worth about $41,000. CX Institutional grew its holdings in shares of Leonardo DRS by 1,617.9% during the third quarter. CX Institutional now owns 962 shares of the company’s stock worth $35,000 after buying an additional 906 shares in the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Leonardo DRS by 426.0% during the first quarter. Root Financial Partners LLC now owns 1,194 shares of the company’s stock worth $53,000 after buying an additional 967 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Price Performance

DRS opened at $36.41 on Tuesday. The stock has a market cap of $9.71 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.90 and a beta of 0.37. Leonardo DRS has a 12 month low of $32.39 and a 12 month high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $36.32 and a 200 day simple moving average of $42.00.

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

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s dividend payout ratio is currently 26.47%.

About Leonardo DRS

Leonardo DRS, Inc is a U.S.-based defense technology company and a subsidiary of the Italian aerospace and defense group Leonardo S.p.A. It develops and supplies advanced products and services for the U.S. military and other government and commercial customers.

The company’s offerings include naval power and propulsion systems, combat and mission systems, electro-optical and infrared sensors, electronic warfare and communications equipment, and computing and networking technologies. Its products support operations across maritime, land, air and space domains.

Leonardo DRS traces its roots to DRS Technologies, founded in 1969.