Leonardo DRS (NASDAQ:DRS) Price Target Raised to $47.00 at Morgan Stanley

Key Points

• Morgan Stanley has raised its price target for Leonardo DRS from $44.00 to $47.00, indicating a potential upside of 12.20% from the stock's previous close.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average target price of $46.29, following varying ratings from different research firms.
• During recent trading, Leonardo DRS shares decreased by 3.1%, bringing the stock price down to $41.89, while the market capitalization stands at $11.15 billion.

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its target price hoisted by equities research analysts at Morgan Stanley from $44.00 to $47.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 12.20% from the stock's previous close.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They issued a "buy" rating and a $49.00 price objective for the company. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Truist Financial upped their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.29.

Leonardo DRS Stock Down 3.1%

Shares of NASDAQ:DRS traded down $1.35 during trading on Thursday, hitting $41.89. 728,468 shares of the company were exchanged, compared to its average volume of 1,033,231. The stock has a market capitalization of $11.15 billion, a P/E ratio of 48.15, a PEG ratio of 2.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64. Leonardo DRS has a 12-month low of $22.73 and a 12-month high of $49.31. The firm's 50 day moving average price is $45.22 and its 200-day moving average price is $38.35.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. Leonardo DRS's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. On average, research analysts predict that Leonardo DRS will post 1.04 earnings per share for the current fiscal year.

Insider Transactions at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company's stock.

Institutional Trading of Leonardo DRS

Several large investors have recently bought and sold shares of the company. FMR LLC grew its position in shares of Leonardo DRS by 183.2% during the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock worth $111,715,000 after buying an additional 2,236,661 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Leonardo DRS during the first quarter worth approximately $31,254,000. T. Rowe Price Investment Management Inc. grew its position in shares of Leonardo DRS by 16.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock worth $192,298,000 after buying an additional 804,938 shares in the last quarter. Norges Bank bought a new position in Leonardo DRS during the fourth quarter worth $24,920,000. Finally, JPMorgan Chase & Co. lifted its stake in Leonardo DRS by 261.6% during the fourth quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock worth $20,081,000 after purchasing an additional 449,642 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

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.

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