Leonardo DRS (NASDAQ:DRS) Reaches New 12-Month Low – What’s Next?

Leonardo DRS, Inc. (NASDAQ:DRS) hit a new 52-week low during trading on Friday. The stock traded as low as $32.39 and last traded at $33.5420, with a volume of 34,398 shares traded. The stock had previously closed at $33.00.

Analysts Set New Price Targets

A number of research analysts have recently commented on DRS shares. Oppenheimer assumed coverage on Leonardo DRS in a report on Thursday, October 22nd. They set an “outperform” rating and a $45.00 price target for the company. Zacks Research upgraded shares of Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Weiss Ratings lowered shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Morgan Stanley upped their target price on shares of Leonardo DRS from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $51.50.

Leonardo DRS Price Performance

The company has a market cap of $8.94 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.90 and a beta of 0.37. The company has a fifty day moving average price of $36.46 and a two-hundred day moving average price of $42.06. The company has a current ratio of 1.88, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The business 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%. Leonardo DRS’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.52 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, November 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Leonardo DRS’s payout ratio is currently 26.47%.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, CFO Michael Dippold sold 14,317 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $37.91, for a total value of $542,757.47. Following the sale, the chief financial officer owned 20,826 shares of the company’s stock, valued at $789,513.66. The trade was a 40.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.25% of the stock is owned by company insiders.

Institutional Trading of Leonardo DRS

Several institutional investors have recently made changes to their positions in DRS. Paragon Advisors LLC bought a new stake in Leonardo DRS in the third quarter valued at about $241,000. Kornitzer Capital Management Inc. KS raised its position in Leonardo DRS by 8.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 113,607 shares of the company’s stock worth $4,161,000 after purchasing an additional 8,848 shares in the last quarter. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 5,942 shares during the period. Kestra Advisory Services LLC bought a new position in Leonardo DRS during the third quarter worth about $216,000. Finally, Covestor Ltd lifted its stake in 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 purchasing an additional 416 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.