Leonardo DRS (NASDAQ:DRS) Given New $51.00 Price Target at Truist Financial

Leonardo DRS (NASDAQ:DRS - Get Free Report) had its price target hoisted by investment analysts at Truist Financial from $45.00 to $51.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price would suggest a potential upside of 6.32% from the company's current price.

DRS has been the topic of a number of other reports. Morgan Stanley raised their target price on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price objective on the stock. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. raised their target price 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 lowered shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $45.86.

Leonardo DRS Stock Performance

NASDAQ:DRS traded up $0.40 on Friday, hitting $47.97. The stock had a trading volume of 951,278 shares, compared to its average volume of 826,384. Leonardo DRS has a 52-week low of $22.73 and a 52-week high of $48.48. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 55.14, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. The company has a quick ratio of 1.64, a current ratio of 2.02 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $43.64 and its two-hundred day simple moving average is $37.09.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results 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. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The company had revenue of $799.00 million during the quarter, compared to analyst estimates of $736.72 million. During the same period in the previous year, the business posted $0.14 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Leonardo DRS will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David W. Carey sold 6,438 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares in the company, valued at $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Leonardo DRS

A number of large investors have recently made changes to their positions in DRS. FMR LLC boosted 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 valued at $111,715,000 after buying an additional 2,236,661 shares during the period. Nuveen LLC bought a new stake in shares of Leonardo DRS during the 1st quarter worth approximately $31,254,000. T. Rowe Price Investment Management Inc. boosted its holdings in Leonardo DRS by 16.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock valued at $192,298,000 after acquiring an additional 804,938 shares during the period. Norges Bank bought a new position in Leonardo DRS in the 4th quarter valued at $24,920,000. Finally, Teacher Retirement System of Texas grew its position in Leonardo DRS by 87.7% in the 4th quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company's stock valued at $34,495,000 after acquiring an additional 498,979 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

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.