Leonardo DRS (NASDAQ:DRS) Price Target Raised to $33.00

Leonardo DRS (NASDAQ:DRS) had its target price hoisted by analysts at JPMorgan Chase & Co. from $32.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.52% from the stock’s previous close.

DRS has been the subject of a number of other research reports. Truist Financial increased their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Leonardo DRS Stock Down 0.7 %

Shares of DRS traded down $0.22 during mid-day trading on Friday, reaching $30.98. 116,869 shares of the stock traded hands, compared to its average volume of 619,989. The stock has a fifty day simple moving average of $33.67 and a 200 day simple moving average of $31.49. Leonardo DRS has a 12-month low of $19.88 and a 12-month high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 41.87, a P/E/G ratio of 1.30 and a beta of 1.01.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business had revenue of $981.00 million during the quarter, compared to the consensus estimate of $942.18 million. Sell-side analysts expect that Leonardo DRS will post 0.92 EPS for the current fiscal year.

Leonardo DRS announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Eric Salzman sold 3,477 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the transaction, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. The trade was a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,089 shares of company stock valued at $5,178,619. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DRS. Steward Partners Investment Advisory LLC increased its position in shares of Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares during the last quarter. Covestor Ltd raised its holdings in Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after buying an additional 1,259 shares during the last quarter. IFP Advisors Inc boosted its position in Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after buying an additional 525 shares during the period. KBC Group NV raised its position in shares of 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 during the period. Finally, Point72 Hong Kong Ltd bought a new position in Leonardo DRS during the third quarter valued at about $109,000. 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.