Leonardo DRS (NASDAQ:DRS) Price Target Raised to $37.00 at Truist Financial

Leonardo DRS (NASDAQ:DRS) had its price target increased by Truist Financial from $36.00 to $37.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on DRS. Robert W. Baird upped their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.00.

Leonardo DRS Stock Performance

Shares of DRS opened at $34.50 on Tuesday. The company’s 50 day simple moving average is $34.20 and its 200-day simple moving average is $30.21. The firm has a market cap of $9.12 billion, a PE ratio of 46.62, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. Leonardo DRS has a 12-month low of $18.73 and a 12-month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In other Leonardo DRS news, SVP Pamela Morrow sold 11,100 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares in the company, valued at approximately $437,387.65. The trade was a 46.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Dippold sold 25,880 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total transaction of $881,990.40. Following the transaction, the chief financial officer now directly owns 47,028 shares in the company, valued at approximately $1,602,714.24. This trade represents a 35.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,083 shares of company stock worth $3,349,255. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently modified their holdings of DRS. Covestor Ltd grew its holdings in shares of Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after acquiring an additional 1,259 shares during the period. KBC Group NV boosted its position in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Leonardo DRS in the third quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Leonardo DRS in the third quarter valued at $113,000. Finally, New York State Teachers Retirement System increased its position in shares of Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after buying an additional 432 shares in the last quarter. 18.76% of the stock is currently 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.