Leonardo DRS (NASDAQ:DRS) Sets New 52-Week High Following Analyst Upgrade

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report)'s stock price hit a new 52-week high 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 traded. The stock had previously closed at $47.57.

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

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares in the company, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after acquiring an additional 700 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 worth $42,000 after acquiring an additional 611 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Leonardo DRS during the first quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Leonardo DRS during the first quarter worth $50,000. Finally, Twin Tree Management LP bought a new stake in shares of Leonardo DRS during the first quarter worth $58,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Trading Up 0.9%

The company has a market cap of $12.89 billion, a P/E ratio of 55.78, a P/E/G 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 business has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $37.34.

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

Leonardo DRS Announces Dividend

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 dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.74%. Leonardo DRS's dividend payout ratio (DPR) is presently 41.38%.

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.