Leonardo DRS, Inc. (NASDAQ:DRS) Declares $0.09 Quarterly Dividend

Key Points

• Leonardo DRS, Inc. announced a quarterly dividend of $0.09 per share, with shareholders of record set for August 20th to receive it on September 3rd, reflecting a 0.75% yield.
• The company's recent earnings report showed an earnings per share (EPS) of $0.23, exceeding analysts' estimates and representing a 10.1% year-over-year revenue growth.
• Research analysts have updated their price targets for Leonardo DRS, with several firms setting new targets between $44.00 and $49.00 and a consensus rating of "Moderate Buy".

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) declared a quarterly dividend on Sunday, August 3rd, RTT News reports. Stockholders of record on Wednesday, August 20th will be given a dividend of 0.09 per share on Wednesday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 20th.

Leonardo DRS has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Leonardo DRS to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 30.0%.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded up $0.07 during trading on Friday, hitting $41.67. 2,186,310 shares of the stock traded hands, compared to its average volume of 1,382,931. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 2.37 and a beta of 0.65. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. Leonardo DRS has a 52 week low of $22.73 and a 52 week high of $49.31. The firm's fifty day moving average is $45.25 and its 200-day moving average is $38.50.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Research analysts expect that Leonardo DRS will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Leonardo DRS

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Leonardo DRS in the second quarter worth approximately $26,000. Nisa Investment Advisors LLC lifted its position in Leonardo DRS by 92.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock valued at $42,000 after acquiring an additional 611 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in Leonardo DRS during the 1st quarter valued at $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Leonardo DRS in the 1st quarter worth $50,000. Finally, Twin Tree Management LP purchased a new position in shares of Leonardo DRS in the first quarter worth $58,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Company Profile

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.