Truist Financial Raises Leonardo DRS (NASDAQ:DRS) Price Target to $40.00

Leonardo DRS (NASDAQ:DRS) had its target price hoisted by Truist Financial from $37.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 11.16% from the stock’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Bank of America raised Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded up $0.07 during trading hours on Thursday, reaching $35.98. The stock had a trading volume of 83,521 shares, compared to its average volume of 662,260. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS has a twelve month low of $19.88 and a twelve month high of $37.99. The stock’s 50 day moving average is $32.16 and its 200 day moving average is $32.79. The firm has a market capitalization of $9.57 billion, a PE ratio of 45.55, a PEG ratio of 1.41 and a beta of 0.73.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Leonardo DRS had a net margin of 6.59% and a return on equity of 10.37%. The company had revenue of $981.00 million during the quarter, compared to analyst estimates of $942.18 million. Equities analysts expect that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $35.25, for a total value of $1,586,250.00. Following the transaction, the chief executive officer now owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Dippold sold 26,618 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $32.70, for a total value of $870,408.60. Following the sale, the chief financial officer now directly owns 68,802 shares of the company’s stock, valued at $2,249,825.40. The trade was a 27.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,360 shares of company stock worth $4,849,137 in the last ninety days. 0.12% of the stock is owned by insiders.

Institutional Trading of Leonardo DRS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its stake in shares of Leonardo DRS by 233.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $32,000 after buying an additional 700 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in Leonardo DRS during the first quarter worth about $46,000. IFP Advisors Inc lifted its position in shares of Leonardo DRS by 37.0% during the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $63,000 after purchasing an additional 525 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $116,000. Finally, KBC Group NV increased its stake in Leonardo DRS by 42.0% during the 4th quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $119,000 after buying an additional 1,086 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

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.