Leonardo DRS, Inc. (DRS) to Issue Quarterly Dividend of $0.09 on March 27th

Leonardo DRS, Inc. (NASDAQ:DRS) declared a quarterly dividend on Monday, March 10th, RTT News reports. Stockholders of record on Thursday, March 13th will be paid a dividend of 0.09 per share on Thursday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, March 13th.

Leonardo DRS has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Leonardo DRS to earn $1.20 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 30.0%.

Leonardo DRS Stock Down 0.9 %

NASDAQ:DRS opened at $30.97 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS has a one year low of $19.88 and a one year high of $37.99. The firm’s 50 day simple moving average is $32.94 and its 200 day simple moving average is $31.77. The company has a market cap of $8.21 billion, a PE ratio of 39.20, a P/E/G ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $981.00 million for 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%. On average, research analysts anticipate that Leonardo DRS will post 1.04 earnings per share for the current year.

Leonardo DRS announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the transaction, the chief operating officer now directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00. Following the transaction, the chief executive officer now directly owns 189,937 shares in the company, valued at approximately $6,695,279.25. The trade was a 19.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,770 shares of company stock valued at $2,226,047. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DRS. JPMorgan Chase & Co. upped their price objective on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Friday. Finally, Truist Financial upped their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.83.

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.