Leonardo DRS (NASDAQ:DRS) CFO Sells $542,757.47 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 14,317 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $37.91, for a total transaction of $542,757.47. Following the transaction, the chief financial officer directly owned 20,826 shares in the company, valued at approximately $789,513.66. This represents a 40.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dippold also recently made the following trade(s):

• On Wednesday, September 2nd, Michael Dippold sold 20,317 shares of Leonardo DRS stock. The stock was sold at an average price of $37.18, for a total transaction of $755,386.06.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS traded up $1.94 on Tuesday, reaching $38.86. 2,881,491 shares of the company’s stock were exchanged, compared to its average volume of 1,103,527. Leonardo DRS, Inc. has a twelve month low of $32.43 and a twelve month high of $50.59. The company has a fifty day moving average of $36.62 and a 200-day moving average of $42.16. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.14 and a beta of 0.36. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. On average, research analysts predict that Leonardo DRS, Inc. will post 1.47 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, November 12th. Leonardo DRS’s dividend payout ratio (DPR) is 26.47%.

Wall Street Analysts Forecast Growth

DRS has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Leonardo DRS from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday. Guggenheim started coverage on Leonardo DRS in a research report on Monday, September 14th. They issued a “buy” rating and a $51.00 price target on the stock. Oppenheimer started coverage on Leonardo DRS in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $45.00 price target for the company. Weiss Ratings downgraded shares of Leonardo DRS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $51.50.

Key Leonardo DRS News

Here are the key news stories impacting Leonardo DRS this week:

• Positive Sentiment: AeroVironment selected Leonardo DRS as a subcontractor for the U.S. Army’s Enduring-High Energy Laser production program. DRS will provide rugged vehicle integration and power and thermal management expertise. The award strengthens its position in a developing defense program, although the announcement did not disclose the contract’s value. Article: Leonardo DRS Selected by AV for U.S. Army’s Enduring-High Energy Laser Production Program
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating and $50 price target. A separate report put the consensus target at $51.50, both above the $38.86 price cited in the coverage. Article: Leonardo DRS Stock Has Consensus Target Price of $51.50
• Neutral Sentiment: Morgan Stanley raised its target from $44 to $45 but retained an “equal weight” rating, indicating a modestly higher valuation view without a more bullish recommendation. Article: Morgan Stanley stock recommendations
• Neutral Sentiment: DRS is set to demonstrate thermal-camera cores for the Army’s DUTCH initiative. The demonstration could showcase its sensor technology, but the report does not describe a contract award. Article: Leonardo DRS to demonstrate thermal camera cores

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Leonardo DRS during the second quarter worth $212,883,000. Bank of America Corp DE acquired a new stake in shares of Leonardo DRS in the 2nd quarter valued at $24,941,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Leonardo DRS in the 2nd quarter valued at $24,857,000. Bank of New York Mellon Corp increased its stake in shares of Leonardo DRS by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 517,166 shares of the company’s stock valued at $23,024,000 after purchasing an additional 15,349 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Leonardo DRS in the second quarter valued at about $8,705,000. 18.76% of the stock is owned by institutional investors.

About Leonardo DRS

Leonardo DRS, Inc is a defense technology company that develops and supplies advanced products and systems for the U.S. military and government customers, as well as allied nations. The company operates as a subsidiary of Leonardo S.p.A. and focuses on technologies used in land, sea, air and space-related defense applications.

Its offerings include sensing and surveillance systems, electro-optical and infrared technologies, radar and electronic warfare products, network computing and communications systems, counter-uncrewed aircraft systems, force protection equipment, and naval power and propulsion systems.