Leonardo DRS (NASDAQ:DRS) Sets New 12-Month High - Here's What Happened

Key Points

• Leonardo DRS reached a new 52-week high at $49.31, closing at $48.09 with a trading volume of 84,333 shares.
• Analysts have varying opinions on Leonardo DRS stock, with price targets ranging from $44.00 to $51.00, while the average rating remains "Moderate Buy".
• The company announced a quarterly dividend of $0.09, representing a 0.75% yield, and has reported a revenue increase of 16.1% year-over-year.

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $49.31 and last traded at $48.09, with a volume of 84333 shares trading hands. The stock had previously closed at $48.08.

Wall Street Analyst Weigh In

DRS has been the subject of a number of research reports. Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Truist Financial increased their target price on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 11th. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Finally, Morgan Stanley upped their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and a consensus price target of $46.29.

Leonardo DRS Stock Up 0.7%

The company has a market capitalization of $11.14 billion, a PE ratio of 44.86, a PEG ratio of 2.52 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 stock's 50 day moving average is $45.24 and its 200 day moving average is $38.40.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.09%. The company had revenue of $829.00 million for the quarter, compared to analysts' expectations of $824.50 million. During the same period in the prior year, the company posted $0.18 EPS. Leonardo DRS's revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 20th. Leonardo DRS's dividend payout ratio (DPR) is 41.38%.

Insider Activity

In related news, Director David W. Carey sold 6,438 shares of the 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 sale, the director 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently made changes to their positions in DRS. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Leonardo DRS in the second quarter worth $26,000. Nisa Investment Advisors LLC raised its position in shares of Leonardo DRS by 92.3% in the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock worth $42,000 after buying an additional 611 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Leonardo DRS in the first quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Leonardo DRS in the first quarter worth $50,000. Finally, Twin Tree Management LP purchased a new stake in shares of Leonardo DRS in the first quarter worth $58,000. Hedge funds and other 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.