SG Americas Securities LLC Has $724,000 Position in Leonardo DRS, Inc. (NASDAQ:DRS)

SG Americas Securities LLC lowered its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 58.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,397 shares of the company’s stock after selling 31,420 shares during the period. SG Americas Securities LLC’s holdings in Leonardo DRS were worth $724,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd boosted its stake in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after buying an additional 1,259 shares in the last quarter. KBC Group NV boosted 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Leonardo DRS in the 3rd quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Leonardo DRS in the 3rd quarter valued at $113,000. Finally, New York State Teachers Retirement System boosted its stake in shares of Leonardo DRS by 6.9% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Down 3.2 %

Shares of NASDAQ DRS opened at $34.64 on Thursday. The firm’s 50-day simple moving average is $34.33 and its 200 day simple moving average is $30.92. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 46.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 12-month low of $18.73 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business 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 firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. On average, research analysts expect that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DRS. JPMorgan Chase & Co. boosted their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Truist Financial boosted their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Robert W. Baird boosted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insiders Place Their Bets

In other news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 represents a 16.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the sale, the chief operating officer now directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 98,083 shares of company stock valued at $3,349,255. 0.12% of the stock is currently owned by insiders.

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.