Leonardo DRS, Inc. (DRS) To Go Ex-Dividend on November 12th

Leonardo DRS, Inc. (NASDAQ:DRS) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.09 per share on Wednesday, November 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th.

Leonardo DRS has a dividend payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Leonardo DRS to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 24.2%.

Leonardo DRS Stock Performance

NASDAQ:DRS opened at $36.41 on Tuesday. The company has a market cap of $9.71 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.90 and a beta of 0.37. Leonardo DRS has a twelve month low of $32.39 and a twelve month high of $50.59. The company’s 50-day moving average price is $36.32 and its 200-day moving average price is $42.00. The company has a current ratio of 1.88, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Leonardo DRS had a net margin of 9.40% and a return on equity of 14.33%. Leonardo DRS’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. On average, sell-side analysts forecast that Leonardo DRS will post 1.52 earnings per share for the current fiscal year.

Insider Activity at Leonardo DRS

In related news, CFO Michael Dippold sold 20,317 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 35,143 shares of the company’s stock, valued at approximately $1,306,616.74. This trade represents a 36.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Leonardo DRS during the 2nd quarter worth about $212,883,000. Bank of America Corp DE acquired a new stake in Leonardo DRS during the 2nd quarter worth approximately $24,941,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Leonardo DRS in the 2nd quarter valued at approximately $24,857,000. Bank of New York Mellon Corp boosted its position in Leonardo DRS by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 517,166 shares of the company’s stock valued at $23,024,000 after buying an additional 15,349 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Leonardo DRS in the second quarter worth $8,705,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

About Leonardo DRS

Leonardo DRS, Inc is a U.S.-based defense technology company and a subsidiary of the Italian aerospace and defense group Leonardo S.p.A. It develops and supplies advanced products and services for the U.S. military and other government and commercial customers.

The company’s offerings include naval power and propulsion systems, combat and mission systems, electro-optical and infrared sensors, electronic warfare and communications equipment, and computing and networking technologies. Its products support operations across maritime, land, air and space domains.

Leonardo DRS traces its roots to DRS Technologies, founded in 1969.