Leonardo DRS’s (DRS) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Leonardo DRS (NASDAQ:DRS) in a report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $50.00 price objective on the stock.

DRS has been the subject of a number of other research reports. Zacks Research raised shares of Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Truist Financial dropped their price objective on Leonardo DRS from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.14.

Leonardo DRS Stock Up 1.4%

Shares of Leonardo DRS stock opened at $36.56 on Thursday. Leonardo DRS has a 12-month low of $28.17 and a 12-month high of $49.31. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $41.86 and a two-hundred day moving average price of $42.52. The stock has a market capitalization of $9.73 billion, a P/E ratio of 37.31, a PEG ratio of 2.02 and a beta of 0.56.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.45%. Leonardo DRS’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. Equities analysts expect that Leonardo DRS will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, November 18th. Leonardo DRS’s payout ratio is currently 38.71%.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the completion of the sale, the director owned 11,820 shares in the company, valued at approximately $486,629.40. This trade represents a 27.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Baylouny sold 11,420 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $41.78, for a total value of $477,127.60. Following the sale, the chief operating officer owned 114,488 shares in the company, valued at approximately $4,783,308.64. This represents a 9.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,039 shares of company stock valued at $2,303,587 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Leonardo DRS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Leonardo DRS by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock valued at $261,656,000 after acquiring an additional 22,990 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Leonardo DRS by 16.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock valued at $192,298,000 after purchasing an additional 804,938 shares in the last quarter. Invesco Ltd. grew its stake in shares of Leonardo DRS by 30.1% in the 2nd quarter. Invesco Ltd. now owns 3,768,160 shares of the company’s stock valued at $175,144,000 after purchasing an additional 870,772 shares during the period. State Street Corp raised its holdings in shares of Leonardo DRS by 8.3% in the 2nd quarter. State Street Corp now owns 3,311,605 shares of the company’s stock worth $153,923,000 after buying an additional 254,975 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Leonardo DRS by 21.3% in the 3rd quarter. Voya Investment Management LLC now owns 1,807,025 shares of the company’s stock worth $82,039,000 after buying an additional 317,294 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

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.