Leonardo DRS (NASDAQ:DRS) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of Leonardo DRS (NASDAQ:DRS - Free Report) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley lifted their target price on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Friday, March 7th. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, Truist Financial lifted their price objective on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.29.

Leonardo DRS Price Performance

Leonardo DRS stock traded up $1.44 during midday trading on Friday, reaching $46.48. The company's stock had a trading volume of 1,382,316 shares, compared to its average volume of 801,173. Leonardo DRS has a 52 week low of $22.73 and a 52 week high of $46.96. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $41.80 and a 200-day moving average price of $36.16. The stock has a market cap of $12.37 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The firm had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts predict that Leonardo DRS will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS's dividend payout ratio is currently 41.38%.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer directly owned 137,283 shares of the company's stock, valued at approximately $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director directly owned 23,882 shares in the company, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors have recently added to or reduced their stakes in DRS. Steward Partners Investment Advisory LLC lifted its stake in 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 buying an additional 700 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Leonardo DRS by 92.3% during the first 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 bought a new stake in shares of Leonardo DRS during the first quarter valued at approximately $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Leonardo DRS during the first quarter valued at approximately $50,000. Finally, Twin Tree Management LP bought a new stake in Leonardo DRS during the first quarter worth $58,000. 18.76% of the stock is owned by institutional investors and hedge funds.

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.