Leonardo DRS (NASDAQ:DRS) Shares Gap Up - Here's Why

Shares of Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $34.93, but opened at $37.11. Leonardo DRS shares last traded at $37.16, with a volume of 174,596 shares traded.

Wall Street Analyst Weigh In

DRS has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Bank of America downgraded shares of Leonardo DRS from a "buy" rating to a "neutral" rating and upped their target price for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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 assigned a buy rating to the company's stock. According to MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and a consensus price target of $32.17.

Leonardo DRS Price Performance

The firm's 50-day moving average price is $32.16 and its two-hundred day moving average price is $28.54. The stock has a market cap of $9.80 billion, a PE ratio of 50.07, a PEG ratio of 1.85 and a beta of 0.97. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. Leonardo DRS's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Leonardo DRS news, CFO Michael Dippold sold 25,880 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the transaction, the chief financial officer now directly owns 47,028 shares in the company, valued at $1,602,714.24. The trade was a 35.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Pamela Morrow sold 11,100 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the completion of the transaction, the senior vice president now owns 12,565 shares in the company, valued at $437,387.65. The trade was a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,319 shares of company stock worth $2,952,572. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company's stock worth $29,000 after acquiring an additional 1,074 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Leonardo DRS by 226.8% in 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 last quarter. Comerica Bank lifted its holdings in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company's stock worth $61,000 after acquiring an additional 527 shares during the last quarter. KBC Group NV lifted its holdings 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 worth $73,000 after acquiring an additional 771 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS in the 3rd quarter worth approximately $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.