Michael Dippold Sells 26,618 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

by · The Markets Daily

Leonardo DRS, Inc. (NASDAQ:DRS – Get Free Report) CFO Michael Dippold sold 26,618 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total transaction of $870,408.60. Following the sale, the chief financial officer now directly owns 68,802 shares in the company, valued at approximately $2,249,825.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Leonardo DRS Stock Up 5.4 %

Shares of NASDAQ:DRS traded up $1.80 during trading on Wednesday, hitting $34.95. The company’s stock had a trading volume of 1,133,968 shares, compared to its average volume of 616,238. The business has a 50 day moving average price of $32.89 and a two-hundred day moving average price of $31.94. The company has a market capitalization of $9.27 billion, a PE ratio of 44.24, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS – Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. Leonardo DRS’s dividend payout ratio (DPR) is 45.57%.

Leonardo DRS declared that its board has approved a stock buyback program on Thursday, February 20th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.83.

Check Out Our Latest Stock Report on DRS

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors have recently modified their holdings of DRS. Steward Partners Investment Advisory LLC grew its stake in shares of Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares in the last quarter. KBC Group NV grew its stake in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS during the third quarter worth $109,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leonardo DRS during the third quarter worth $113,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Company Profile

(Get Free Report)

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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