Leonardo DRS (NASDAQ:DRS) Stock Rating Upgraded by Guggenheim

Leonardo DRS (NASDAQ:DRS) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a report issued on Monday, Zacks reports.

A number of other equities analysts also recently commented on DRS. JPMorgan Chase & Co. lifted their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Leonardo DRS presently has a consensus rating of “Buy” and a consensus price target of $53.17.

Leonardo DRS Stock Up 0.6%

Shares of NASDAQ:DRS opened at $37.09 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $42.23 and a two-hundred day moving average of $43.91. The stock has a market cap of $9.90 billion, a P/E ratio of 31.17, a PEG ratio of 2.27 and a beta of 0.35. Leonardo DRS has a 52-week low of $32.43 and a 52-week high of $50.59.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, research analysts expect that Leonardo DRS will post 1.37 earnings per share for the current year.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, CFO Michael Dippold sold 20,317 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.18, for a total value of $755,386.06. Following the transaction, the chief financial officer owned 35,143 shares of the company’s stock, valued at $1,306,616.74. This represents a 36.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,864 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.81, for a total transaction of $177,009.84. Following the transaction, the executive vice president directly owned 23,581 shares of the company’s stock, valued at approximately $1,080,245.61. This trade represents a 14.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,046 shares of company stock valued at $1,107,751 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently made changes to their positions in DRS. BlackRock Inc. acquired a new stake in Leonardo DRS in the 2nd quarter valued at approximately $212,883,000. Stephens Investment Management Group LLC lifted its stake in Leonardo DRS by 107.6% during the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock worth $94,308,000 after purchasing an additional 1,098,108 shares in the last quarter. Norges Bank acquired a new position in Leonardo DRS during the fourth quarter worth $37,481,000. Los Angeles Capital Management LLC boosted its position in shares of Leonardo DRS by 76.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 601,245 shares of the company’s stock worth $21,675,000 after buying an additional 260,719 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Leonardo DRS during the second quarter worth $24,941,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and manufactures advanced products and systems for the U.S. Department of Defense, other government agencies and allied military customers. The company supports land, sea and air platforms as well as command, control, communications, computers, intelligence, surveillance and reconnaissance missions.

Its offerings include electro-optical and infrared sensing systems, network computing and communications equipment, electronic warfare technologies, power and propulsion systems, thermal management solutions, force protection products and advanced battle-management systems.