Leonardo DRS (NASDAQ:DRS) Raised to Strong-Buy at Guggenheim

Leonardo DRS (NASDAQ:DRS) was upgraded by Guggenheim to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

DRS has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $53.17.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $37.09 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. Leonardo DRS has a 52 week low of $32.43 and a 52 week high of $50.59. The stock’s 50-day moving average price is $42.23 and its 200-day moving average price is $43.91. The stock has a market capitalization of $9.90 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 2.27 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The company had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $903.27 million. During the same quarter in the prior year, the firm posted $0.23 EPS. Leonardo DRS’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that Leonardo DRS will post 1.37 EPS for the current fiscal year.

Insider Activity at Leonardo DRS

In related news, EVP Jason Rinsky sold 3,865 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $45.37, for a total transaction of $175,355.05. Following the completion of the sale, the executive vice president directly owned 27,445 shares in the company, valued at approximately $1,245,179.65. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.18, for a total value of $755,386.06. Following the completion of the transaction, the chief financial officer directly owned 35,143 shares of the company’s stock, valued at approximately $1,306,616.74. This represents a 36.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,046 shares of company stock worth $1,107,751. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Leonardo DRS

A number of large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in shares of Leonardo DRS by 15.6% in the second quarter. Sequoia Financial Advisors LLC now owns 9,389 shares of the company’s stock worth $401,000 after buying an additional 1,265 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Leonardo DRS during the 2nd quarter valued at about $1,327,000. Integrated Wealth Concepts LLC grew its stake in Leonardo DRS by 25.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,501 shares of the company’s stock valued at $576,000 after acquiring an additional 2,702 shares in the last quarter. IFP Advisors Inc raised its holdings in Leonardo DRS by 26.9% in the 2nd quarter. IFP Advisors Inc now owns 2,030 shares of the company’s stock valued at $87,000 after acquiring an additional 430 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Leonardo DRS by 77.1% in the 2nd quarter. Allworth Financial LP now owns 6,078 shares of the company’s stock valued at $259,000 after acquiring an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Company Profile

Leonardo DRS, Inc is a defense technology company that develops and manufactures advanced products and systems for the U.S. Department of Defense, other government agencies and allied military customers. The company supports land, sea and air platforms as well as command, control, communications, computers, intelligence, surveillance and reconnaissance missions.

Its offerings include electro-optical and infrared sensing systems, network computing and communications equipment, electronic warfare technologies, power and propulsion systems, thermal management solutions, force protection products and advanced battle-management systems.