Leonardo DRS, Inc. (NASDAQ:DRS) Sees Significant Drop in Short Interest

Leonardo DRS, Inc. (NASDAQ:DRS) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 1,550,000 shares, a decline of 11.9% from the November 15th total of 1,760,000 shares. Based on an average daily trading volume, of 616,900 shares, the short-interest ratio is currently 2.5 days. Currently, 2.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CFO Michael Dippold sold 25,880 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the sale, the chief financial officer now owns 47,028 shares of the company’s stock, valued at approximately $1,602,714.24. This trade represents a 35.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,554 shares of company stock worth $3,236,679. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in Leonardo DRS by 16.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after buying an additional 176,326 shares in the last quarter. Geode Capital Management LLC raised its holdings in Leonardo DRS by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after acquiring an additional 51,014 shares in the last quarter. Barclays PLC lifted its stake in Leonardo DRS by 148.5% in the third quarter. Barclays PLC now owns 178,331 shares of the company’s stock worth $5,032,000 after acquiring an additional 106,565 shares during the last quarter. Zacks Investment Management acquired a new position in Leonardo DRS during the 3rd quarter worth approximately $1,381,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Leonardo DRS in the 3rd quarter valued at approximately $311,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Down 0.7 %

Shares of DRS stock traded down $0.25 on Tuesday, hitting $34.44. 483,596 shares of the stock traded hands, compared to its average volume of 620,593. Leonardo DRS has a twelve month low of $18.60 and a twelve month high of $37.99. The stock has a market capitalization of $9.11 billion, a PE ratio of 46.88, a PEG ratio of 1.76 and a beta of 0.97. The firm’s 50-day moving average price is $32.74 and its two-hundred day moving average price is $29.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

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

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.