Zacks Research upgraded shares of Leonardo DRS (NASDAQ:DRS – Free Report) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.
Several other equities analysts have also commented on the stock. The Goldman Sachs Group began coverage on shares of Leonardo DRS in a research note on Monday, June 30th. They issued a “buy” rating and a $49.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Canaccord Genuity Group began coverage on shares of Leonardo DRS in a report on Monday, August 11th. They set a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.
Read Our Latest Research Report on DRS
Leonardo DRS Stock Down 1.5%
Leonardo DRS (NASDAQ:DRS – Get Free Report) last released 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. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities research analysts forecast that Leonardo DRS will post 1.04 EPS for the current fiscal year.
Leonardo DRS Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS’s payout ratio is currently 38.71%.
Insider Buying and Selling at Leonardo DRS
In other news, CFO Michael Dippold sold 19,360 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $41.65, for a total value of $806,344.00. Following the completion of the transaction, the chief financial officer owned 58,834 shares of the company’s stock, valued at $2,450,436.10. The trade was a 24.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John Baylouny sold 8,481 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $43.69, for a total value of $370,534.89. Following the sale, the chief operating officer directly owned 106,007 shares in the company, valued at approximately $4,631,445.83. This trade represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,039 shares of company stock valued at $2,303,587. 0.34% of the stock is owned by insiders.
Institutional Investors Weigh In On Leonardo DRS
Hedge funds have recently bought and sold shares of the stock. Tower View Wealth Management LLC grew its stake in shares of Leonardo DRS by 0.9% during the 3rd quarter. Tower View Wealth Management LLC now owns 94,290 shares of the company’s stock worth $4,281,000 after purchasing an additional 864 shares during the period. CWM LLC boosted its holdings in Leonardo DRS by 460.8% during the third quarter. CWM LLC now owns 37,677 shares of the company’s stock worth $1,711,000 after buying an additional 30,958 shares in the last quarter. Swedbank AB purchased a new stake in Leonardo DRS during the third quarter worth $388,000. Munro Partners grew its position in Leonardo DRS by 72.5% during the third quarter. Munro Partners now owns 170,345 shares of the company’s stock valued at $7,734,000 after buying an additional 71,590 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Leonardo DRS by 21.3% in the third quarter. Voya Investment Management LLC now owns 1,807,025 shares of the company’s stock valued at $82,039,000 after buying an additional 317,294 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.
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.
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