Leonardo DRS (NASDAQ:DRS) Trading Down 3.9% - What's Next?

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report)'s stock price traded down 3.9% during trading on Tuesday . The company traded as low as $42.18 and last traded at $42.99. 265,468 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 752,655 shares. The stock had previously closed at $44.73.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a report 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 report on Thursday, April 17th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Bank of America raised shares of 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Leonardo DRS Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64. The company has a market capitalization of $11.99 billion, a PE ratio of 51.80, a P/E/G ratio of 2.52 and a beta of 0.63. The stock has a 50-day simple moving average of $41.63 and a 200 day simple moving average of $36.06.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 EPS 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 firm had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. During the same period in the prior year, the company earned $0.14 EPS. The firm's revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently announced 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 yield of 0.80%. The ex-dividend date was Thursday, May 22nd. Leonardo DRS's payout ratio is currently 41.38%.

Insiders Place Their Bets

In related news, Director David W. Carey sold 6,438 shares of the company'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 transaction of $295,761.72. Following the transaction, the director now owns 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Baylouny sold 3,529 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the completion of the transaction, the chief operating officer now owns 137,283 shares of the company's stock, valued at $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in Leonardo DRS by 1.8% in the 4th quarter. Rhumbline Advisers now owns 96,918 shares of the company's stock valued at $3,131,000 after buying an additional 1,759 shares during the period. New York State Common Retirement Fund raised its position in Leonardo DRS by 5.4% in the fourth quarter. New York State Common Retirement Fund now owns 26,335 shares of the company's stock valued at $851,000 after purchasing an additional 1,356 shares during the period. IFP Advisors Inc lifted its position in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock worth $63,000 after acquiring an additional 525 shares in the last quarter. Versor Investments LP lifted its position in shares of Leonardo DRS by 195.0% during the fourth quarter. Versor Investments LP now owns 41,600 shares of the company's stock worth $1,344,000 after purchasing an additional 27,500 shares in the last quarter. Finally, Illumine Investment Management LLC acquired a new stake in shares of Leonardo DRS during the fourth quarter valued at about $1,784,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.