Leonardo DRS (NASDAQ:DRS) Given New $37.00 Price Target at Truist Financial

Leonardo DRS (NASDAQ:DRS) had its price objective lifted by equities researchers at Truist Financial from $36.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 6.14% from the company’s current price.

Several other research analysts also recently weighed in on DRS. JPMorgan Chase & Co. upped their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. 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 report on Thursday, October 31st. Finally, Bank of America downgraded shares of 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 report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Leonardo DRS currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Leonardo DRS Price Performance

DRS traded up $1.03 on Tuesday, hitting $34.86. 95,027 shares of the company’s stock traded hands, compared to its average volume of 405,212. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 47.11, a P/E/G ratio of 1.76 and a beta of 1.00. Leonardo DRS has a one year low of $18.73 and a one year 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. The company’s 50 day simple moving average is $34.17 and its 200-day simple moving average is $30.15.

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

Insider Activity

In related news, CEO William Lynn III sold 45,000 shares of the 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 completion of the sale, the chief executive officer now owns 234,937 shares in the company, valued at $8,004,303.59. This represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $386,391.00. Following the completion of the transaction, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,083 shares of company stock valued at $3,349,255. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

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