Leonardo DRS (NASDAQ:DRS) Rating Increased to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Leonardo DRS (NASDAQ:DRS) to a strong-buy rating in a research note released on Monday,Zacks reports.

DRS has been the topic of several other reports. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $53.17.

Leonardo DRS Price Performance

NASDAQ DRS opened at $37.09 on Monday. 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 has a 1 year low of $32.43 and a 1 year high of $50.59. The company has a market cap of $9.90 billion, a PE ratio of 31.17, a PEG ratio of 2.27 and a beta of 0.35. The stock’s 50-day moving average price is $42.23 and its two-hundred day moving average price is $43.91.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The company had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $903.27 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Leonardo DRS will post 1.37 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a $0.09 dividend. The ex-dividend date was Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Leonardo DRS’s payout ratio is 30.25%.

Insider Activity at Leonardo DRS

In other news, EVP Jason Rinsky sold 3,864 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total transaction of $177,009.84. Following the transaction, the executive vice president owned 23,581 shares in the company, valued at $1,080,245.61. This represents a 14.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.18, for a total transaction of $755,386.06. Following the transaction, the chief financial officer owned 35,143 shares in the company, valued at $1,306,616.74. This represents a 36.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,046 shares of company stock valued at $1,107,751 over the last three months. Insiders own 0.25% of the company’s stock.

Institutional Trading of Leonardo DRS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Leonardo DRS by 15.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,389 shares of the company’s stock valued at $401,000 after acquiring an additional 1,265 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Leonardo DRS in the 2nd quarter worth approximately $1,327,000. Integrated Wealth Concepts LLC boosted its position in Leonardo DRS by 25.0% during the second quarter. Integrated Wealth Concepts LLC now owns 13,501 shares of the company’s stock worth $576,000 after purchasing an additional 2,702 shares during the period. IFP Advisors Inc grew its holdings in Leonardo DRS by 26.9% during the second quarter. IFP Advisors Inc now owns 2,030 shares of the company’s stock valued at $87,000 after purchasing an additional 430 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Leonardo DRS by 77.1% during the second quarter. Allworth Financial LP now owns 6,078 shares of the company’s stock valued at $259,000 after purchasing an additional 2,646 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

About Leonardo DRS

Leonardo DRS, Inc is a defense technology company that develops and manufactures advanced products and systems for the U.S. Department of Defense, other government agencies and allied military customers. The company supports land, sea and air platforms as well as command, control, communications, computers, intelligence, surveillance and reconnaissance missions.

Its offerings include electro-optical and infrared sensing systems, network computing and communications equipment, electronic warfare technologies, power and propulsion systems, thermal management solutions, force protection products and advanced battle-management systems.