Pamela Morrow Sells 11,100 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 11,100 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the completion of the transaction, the senior vice president now directly owns 12,565 shares in the company, valued at approximately $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Leonardo DRS Stock Up 1.3 %

Shares of NASDAQ DRS opened at $34.90 on Wednesday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 47.16, a PEG ratio of 1.78 and a beta of 0.97. The stock’s fifty day moving average is $31.67 and its 200 day moving average is $28.32. Leonardo DRS, Inc. has a 52 week low of $18.24 and a 52 week high of $37.99. 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 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. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same period last year, the firm earned $0.20 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leonardo DRS

Large investors have recently modified their holdings of the business. Driehaus Capital Management LLC boosted its stake in shares of Leonardo DRS by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after purchasing an additional 102,198 shares in the last quarter. Geode Capital Management LLC lifted its stake in Leonardo DRS by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after purchasing an additional 51,014 shares during the last quarter. Franklin Resources Inc. boosted its position in Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after buying an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock worth $28,569,000 after buying an additional 82,049 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased 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 worth $25,995,000 after buying an additional 384,522 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DRS. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Robert W. Baird boosted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

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.