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

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) announced a quarterly dividend on Friday, February 21st, 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 1.25%. The ex-dividend date of this dividend is Thursday, March 13th.

Leonardo DRS Stock Down 7.5 %

Shares of DRS stock traded down $2.35 on Friday, reaching $28.85. 1,577,732 shares of the company were exchanged, compared to its average volume of 663,454. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 1.30 and a beta of 1.01. The company has a 50-day moving average of $33.57 and a 200-day moving average of $31.51. 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.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released 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 company had revenue of $981.00 million for the quarter, compared to analysts' expectations of $942.18 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. Analysts anticipate that Leonardo DRS will post 0.92 earnings per share for the current year.

Leonardo DRS declared that its board has initiated a share buyback program on Thursday, February 20th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

DRS has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Truist Financial upped their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.17.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the sale, the chief operating officer now owns 78,334 shares in the company, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now owns 234,937 shares of the company's stock, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,089 shares of company stock worth $5,178,619. Insiders own 0.12% of the company's stock.

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.