Leonardo DRS (NASDAQ:DRS) Hits New 1-Year High Following Analyst Upgrade

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $45.00 to $51.00. Truist Financial currently has a buy rating on the stock. Leonardo DRS traded as high as $48.63 and last traded at $47.34, with a volume of 3156 shares changing hands. The stock had previously closed at $47.57.

Other research analysts have also issued research reports about the company. Morgan Stanley lifted their target price on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group started coverage on Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price objective for the company. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen lowered Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.86.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the company'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 sale, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently modified their holdings of DRS. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Leonardo DRS during the second quarter valued at about $320,000. Voya Investment Management LLC grew its holdings in Leonardo DRS by 23.5% in the first quarter. Voya Investment Management LLC now owns 840,588 shares of the company's stock worth $27,639,000 after purchasing an additional 160,170 shares during the period. Militia Capital Partners LP purchased a new stake in Leonardo DRS in the first quarter worth about $263,000. Rhumbline Advisers grew its holdings in Leonardo DRS by 5.7% in the first quarter. Rhumbline Advisers now owns 102,479 shares of the company's stock worth $3,369,000 after purchasing an additional 5,561 shares during the period. Finally, Strs Ohio purchased a new stake in Leonardo DRS in the first quarter worth about $888,000. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Trading Down 0.6%

The firm has a market cap of $12.58 billion, a PE ratio of 54.47, a PEG ratio of 2.76 and a beta of 0.63. The company has a quick ratio of 1.64, a current ratio of 2.02 and a debt-to-equity ratio of 0.13. The stock's fifty day simple moving average is $43.64 and its two-hundred day simple moving average is $37.09.

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

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.76%. Leonardo DRS's dividend payout ratio (DPR) is presently 41.38%.

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.

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