Leonardo DRS (NASDAQ:DRS) Stock Price Down 5.9% – What’s Next?

Shares of Leonardo DRS, Inc. (NASDAQ:DRS) dropped 5.9% during mid-day trading on Friday . The company traded as low as $30.41 and last traded at $30.25. Approximately 180,223 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 479,948 shares. The stock had previously closed at $32.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DRS shares. Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target 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, Robert W. Baird increased their price objective on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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 stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 39.60, a PEG ratio of 1.51 and a beta of 1.01. The stock has a fifty day moving average of $34.20 and a two-hundred day moving average of $31.42.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 3,477 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the transaction, the director now owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This represents a 20.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,089 shares of company stock valued at $5,178,619 over the last ninety days. 0.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC grew its position in shares of Leonardo DRS by 233.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after buying an additional 700 shares during the period. Covestor Ltd grew its holdings in 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 acquiring an additional 1,259 shares during the period. IFP Advisors Inc raised its position in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after acquiring an additional 525 shares during the last quarter. KBC Group NV lifted its stake in shares of Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS in the 3rd quarter valued at $109,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

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.