Leonardo DRS, Inc. (NASDAQ:DRS) COO Sells $284,107.50 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) COO John Baylouny sold 8,235 shares of Leonardo DRS stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total value of $284,107.50. Following the transaction, the chief operating officer now owns 81,863 shares of the company’s stock, valued at approximately $2,824,273.50. This represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Leonardo DRS Stock Performance

NASDAQ:DRS opened at $34.09 on Friday. The company has a fifty day moving average of $32.65 and a two-hundred day moving average of $28.91. Leonardo DRS, Inc. has a fifty-two week low of $18.60 and a fifty-two week high of $37.99. The stock has a market capitalization of $9.01 billion, a PE ratio of 46.07, a P/E/G ratio of 1.81 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same period last year, the company posted $0.20 EPS. Leonardo DRS’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DRS shares. Robert W. Baird lifted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Institutional Trading of Leonardo DRS

Institutional investors have recently made changes to their positions in the company. Comerica Bank lifted its holdings in Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after acquiring an additional 1,074 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in Leonardo DRS by 368.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after acquiring an additional 8,276 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Leonardo DRS by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 315,335 shares of the company’s stock valued at $8,044,000 after acquiring an additional 27,245 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new position in Leonardo DRS in the 2nd quarter worth approximately $213,000. 18.76% of the stock is owned by institutional investors and hedge funds.

About Leonardo DRS

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.