Brokerages Set Leonardo DRS, Inc. (NASDAQ:DRS) PT at $32.17

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

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

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 8,235 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total transaction of $284,107.50. Following the sale, the chief operating officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sally Wallace sold 4,339 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $151,040.59. Following the sale, the executive vice president now directly owns 30,102 shares of the company’s stock, valued at $1,047,850.62. This represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,554 shares of company stock valued at $3,236,679. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Leonardo DRS

Several hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of 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 grew its holdings in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new stake in Leonardo DRS in the third quarter valued at approximately $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leonardo DRS in the third quarter worth $113,000. Finally, New York State Teachers Retirement System boosted its position in shares of 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 worth $190,000 after purchasing an additional 432 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Down 0.2 %

Shares of DRS stock opened at $32.47 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market cap of $8.58 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The business’s fifty day moving average is $33.41 and its 200-day moving average is $29.58. Leonardo DRS has a 1 year low of $18.60 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 earnings per share. Equities analysts expect 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.