Analysts Set Leonardo DRS, Inc. (NASDAQ:DRS) PT at $33.00

Leonardo DRS, Inc. (NASDAQ:DRS) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.00.

A number of research analysts recently weighed in on DRS shares. JPMorgan Chase & Co. raised their price objective on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Robert W. Baird boosted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th.

Insiders Place Their Bets

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now owns 13,262 shares in the company, valued at $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,089 shares of company stock worth $5,178,619. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors have recently bought and sold shares of DRS. Steward Partners Investment Advisory LLC lifted its position in shares of Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after acquiring an additional 700 shares in the last quarter. Covestor Ltd raised its stake in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after purchasing an additional 1,259 shares during the period. IFP Advisors Inc lifted its holdings in Leonardo DRS by 37.0% in the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV boosted its stake in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Leonardo DRS during the 3rd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

DRS stock opened at $31.15 on Friday. The firm’s 50-day moving average price is $33.67 and its two-hundred day moving average price is $31.49. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.30 and a beta of 1.01. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS has a 12-month low of $19.88 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. As a group, equities analysts predict that Leonardo DRS will post 0.92 earnings per share for the current year.

Leonardo DRS announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.16%.

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.