Michael Dippold Sells 25,880 Shares of Leonardo DRS, Inc. (NASDAQ:DRS) Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CFO Michael Dippold sold 25,880 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.08, for a total transaction of $881,990.40. Following the sale, the chief financial officer now owns 47,028 shares in the company, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Leonardo DRS Stock Up 1.3 %

Shares of NASDAQ DRS traded up $0.44 during midday trading on Tuesday, hitting $34.90. 378,223 shares of the stock traded hands, compared to its average volume of 622,215. 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, Inc. has a one year low of $18.24 and a one year high of $37.99. The business has a 50 day moving average price of $31.39 and a two-hundred day moving average price of $28.16. The company has a market cap of $9.23 billion, a PE ratio of 47.16, a P/E/G ratio of 1.78 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to the consensus estimate 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 was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, equities analysts predict that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DRS. Robert W. Baird increased 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. raised their price objective on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Leonardo DRS has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Institutional Trading of Leonardo DRS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its stake in Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after buying an additional 354 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Leonardo DRS by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock worth $940,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System raised its position in Leonardo DRS by 2.0% in the second quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock worth $563,000 after acquiring an additional 424 shares during the period. New York State Teachers Retirement System grew its holdings in Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after purchasing an additional 432 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in shares of Leonardo DRS by 1.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after buying an additional 435 shares during the last quarter. 18.76% of the stock is 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.