Truist Financial Upgrades Leonardo DRS (NASDAQ:DRS) to “Strong-Buy”

Leonardo DRS (NASDAQ:DRS) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other brokerages also recently issued reports on DRS. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. Bank of America increased their price objective on shares of Leonardo DRS from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Morgan Stanley set a $47.00 price objective on shares of Leonardo DRS in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Leonardo DRS Trading Down 1.5%

NASDAQ:DRS opened at $40.03 on Friday. The business’s 50-day moving average is $44.57 and its two-hundred day moving average is $39.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.60. Leonardo DRS has a 12 month low of $32.43 and a 12 month high of $49.31. The firm has a market capitalization of $10.65 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 3.00 and a beta of 0.29.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Sunday, February 15th. The company reported $0.42 EPS for the quarter. Leonardo DRS had a return on equity of 11.68% and a net margin of 7.62%.The company had revenue of $1.06 billion for the quarter. Research analysts predict that Leonardo DRS will post 1.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Dippold sold 7,071 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $45.38, for a total transaction of $320,881.98. Following the completion of the sale, the chief financial officer owned 63,778 shares of the company’s stock, valued at approximately $2,894,245.64. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Pamela Morrow sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $45.20, for a total transaction of $542,400.00. Following the sale, the senior vice president directly owned 6,494 shares of the company’s stock, valued at $293,528.80. The trade was a 64.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,361 shares of company stock worth $2,944,837 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Leonardo DRS

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Leonardo DRS by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,817 shares of the company’s stock worth $1,441,000 after purchasing an additional 1,922 shares in the last quarter. Millennium Management LLC grew its stake in Leonardo DRS by 29.0% in the first quarter. Millennium Management LLC now owns 369,749 shares of the company’s stock worth $12,157,000 after purchasing an additional 83,077 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Leonardo DRS by 9.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,474 shares of the company’s stock worth $4,882,000 after purchasing an additional 12,712 shares in the last quarter. Intech Investment Management LLC grew its stake in Leonardo DRS by 18.6% in the first quarter. Intech Investment Management LLC now owns 48,560 shares of the company’s stock worth $1,597,000 after purchasing an additional 7,625 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Leonardo DRS in the first quarter worth about $225,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Company Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.