Leonardo DRS, Inc. (NASDAQ:DRS) Receives $32.17 Average PT from Brokerages

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.17.

A number of research analysts have recently issued reports on DRS shares. Robert W. Baird raised their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th.

Insider Activity

In other news, CFO Michael Dippold sold 25,880 shares of Leonardo DRS 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value 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 approximately $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 90 days, insiders have sold 94,554 shares of company stock valued at $3,236,679. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new stake in shares of Leonardo DRS during the 2nd quarter worth $16,916,000. Van ECK Associates Corp purchased a new position in shares of Leonardo DRS in the second quarter worth approximately $11,093,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after acquiring an additional 384,522 shares during the period. Franklin Resources Inc. lifted its position in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock worth $3,286,000 after purchasing an additional 106,999 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $32.88 on Friday. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 1.76 and a beta of 1.00. Leonardo DRS has a one year low of $18.60 and a one year high of $37.99. The company’s 50-day simple moving average is $33.72 and its 200-day simple moving average is $29.72. 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 earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. Equities analysts anticipate that Leonardo DRS will post 0.92 earnings per share for the current fiscal year.

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.