Leonardo DRS (NASDAQ:DRS) Stock Price Up 6.3% Following Earnings Beat

Leonardo DRS, Inc. (NASDAQ:DRS) shot up 6.3% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $32.39 and last traded at $31.39. 189,849 shares were traded during trading, a decline of 68% from the average session volume of 599,731 shares. The stock had previously closed at $29.54.

The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial upped their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Robert W. Baird lifted their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.81, for a total value of $122,844.49. Following the sale, the chief operating officer now directly owns 74,805 shares in the company, valued at $2,603,962.05. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Salzman sold 3,477 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 150,089 shares of company stock valued at $5,178,619. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Leonardo DRS

A number of large investors have recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in shares of Leonardo DRS by 1.1% in the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after purchasing an additional 354 shares during the last quarter. Bank of Montreal Can grew its position in Leonardo DRS by 2.1% in the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock valued at $594,000 after purchasing an additional 379 shares in the last quarter. CIBC Asset Management Inc increased its stake in Leonardo DRS by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after buying an additional 405 shares during the last quarter. New York State Teachers Retirement System lifted its position in Leonardo DRS by 6.9% during the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after buying an additional 432 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Leonardo DRS by 1.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company has a fifty day moving average price of $33.73 and a two-hundred day moving average price of $31.49. The company has a market cap of $8.24 billion, a P/E ratio of 42.06, a PEG ratio of 1.30 and a beta of 1.01.

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.