Leonardo DRS (NASDAQ:DRS) Now Covered by The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Leonardo DRS (NASDAQ:DRS - Get Free Report) in a report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $49.00 price target on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 4.37% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Morgan Stanley increased their price objective on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. Truist Financial raised their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.29.

Leonardo DRS Trading Up 3.6%

Shares of DRS traded up $1.64 during trading hours on Monday, reaching $46.95. 1,163,074 shares of the company traded hands, compared to its average volume of 807,839. The stock's fifty day moving average price is $42.42 and its 200 day moving average price is $36.37. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 2.62 and a beta of 0.63. Leonardo DRS has a 12-month low of $22.73 and a 12-month high of $46.96.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. Sell-side analysts forecast that Leonardo DRS will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the firm's 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 transaction, the director directly owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Baylouny sold 3,529 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the sale, the chief operating officer directly owned 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Leonardo DRS

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRS. Yorktown Management & Research Co Inc purchased a new stake in shares of Leonardo DRS in the first quarter worth about $260,000. Ameriprise Financial Inc. acquired a new position in Leonardo DRS in the fourth quarter valued at approximately $344,000. Brevan Howard Capital Management LP acquired a new position in Leonardo DRS in the fourth quarter valued at approximately $503,000. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company's stock worth $256,377,000 after purchasing an additional 263,002 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,088,369 shares of the company's stock worth $35,165,000 after purchasing an additional 75,999 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

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.