Leonardo DRS, Inc. Declares Quarterly Dividend of $0.09 (NASDAQ:DRS)

Leonardo DRS, Inc. (NASDAQ:DRS) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Thursday, March 13th will be given a dividend of 0.09 per share on Thursday, March 27th. This represents a $0.36 annualized dividend and a yield of 1.16%.

Leonardo DRS Trading Up 5.4 %

NASDAQ:DRS opened at $31.15 on Friday. Leonardo DRS has a 1 year low of $19.88 and a 1 year high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a fifty day moving average price of $33.67 and a two-hundred day moving average price of $31.49. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 1.30 and a beta of 1.01.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. As a group, sell-side analysts anticipate that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

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

Insider Activity at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, the chief operating officer now directly owns 78,334 shares in the company, valued at $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the sale, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,089 shares of company stock worth $5,178,619. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DRS. JPMorgan Chase & Co. boosted their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird upped their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.