Leonardo DRS (NASDAQ:DRS) Shares Down 3.6% – Here’s What Happened

Leonardo DRS, Inc. (NASDAQ:DRS) shares traded down 3.6% during trading on Thursday . The company traded as low as $34.67 and last traded at $34.67. 27,071 shares were traded during trading, a decline of 96% from the average session volume of 619,305 shares. The stock had previously closed at $35.97.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird upped their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Price Performance

The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.28 billion, a P/E ratio of 48.61, a PEG ratio of 1.80 and a beta of 0.97. The firm has a 50-day simple moving average of $31.84 and a 200-day simple moving average of $28.38.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts forecast that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pamela Morrow sold 11,100 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares in the company, valued at $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,319 shares of company stock worth $2,952,572 in the last 90 days. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in shares of Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after buying an additional 1,074 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares during the last quarter. KBC Group NV boosted its holdings in shares of Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares during the last quarter. Comerica Bank boosted its holdings in shares of Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS during the 3rd quarter worth approximately $109,000. Hedge funds and other institutional investors 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.