Leonardo DRS (NASDAQ:DRS) Reaches New 52-Week High - Still a Buy?

Shares of Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $47.11 and last traded at $46.78, with a volume of 152677 shares. The stock had previously closed at $46.41.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a report on Monday, June 30th. They issued a "buy" rating and a $49.00 price target for the company. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. Morgan Stanley lifted 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. Truist Financial upped their price objective on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.29.

Leonardo DRS Stock Down 1.5%

The company has a market capitalization of $12.36 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 2.74 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 2.02. The firm's fifty day moving average is $43.21 and its 200-day moving average is $36.77.

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, topping 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 business had revenue of $799.00 million for the quarter, compared to analyst estimates of $736.72 million. During the same quarter in the previous year, the company posted $0.14 EPS. Leonardo DRS's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, May 22nd. Leonardo DRS's dividend payout ratio is currently 41.38%.

Insider Buying and Selling at Leonardo DRS

In other news, 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 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.12% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased 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 purchasing an additional 700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock valued at $35,165,000 after buying an additional 75,999 shares during the period. Raymond James Financial Inc. bought a new stake in Leonardo DRS in the 4th quarter valued at about $4,304,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Leonardo DRS by 23.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,287 shares of the company's stock worth $946,000 after buying an additional 5,613 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Leonardo DRS during the 4th quarter valued at $219,000. 18.76% of the stock is owned by institutional investors.

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.