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 morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports 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. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Leonardo DRS presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Leonardo DRS Price Performance

Shares of DRS opened at $34.85 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $34.19 and its 200 day simple moving average is $30.24. Leonardo DRS has a 1-year low of $18.73 and a 1-year high of $37.99. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 1.46 and a beta of 1.00.

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

Insider Transactions at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of the company’s 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 transaction, the chief operating officer now directly owns 78,334 shares in the company, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,083 shares of company stock worth $3,349,255. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Leonardo DRS

Several large investors have recently modified their holdings of DRS. Covestor Ltd lifted its position in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period. KBC Group NV lifted its holdings in shares of Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after acquiring an additional 771 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Leonardo DRS during the 3rd quarter worth approximately $109,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Leonardo DRS in the third quarter valued at approximately $113,000. Finally, New York State Teachers Retirement System raised its position in Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after purchasing an additional 432 shares in the last quarter. 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.