Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by State Street Corp

State Street Corp cut its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,956,907 shares of the company’s stock after selling 117,097 shares during the period. State Street Corp owned 1.12% of Leonardo DRS worth $83,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DRS. Janus Henderson Group PLC lifted its stake in Leonardo DRS by 4.9% during the 3rd quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after acquiring an additional 13,613 shares during the period. Citigroup Inc. lifted its stake in Leonardo DRS by 46.2% during the 3rd quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock valued at $5,537,000 after acquiring an additional 62,042 shares during the period. Driehaus Capital Management LLC lifted its stake in Leonardo DRS by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after acquiring an additional 102,198 shares during the period. Van ECK Associates Corp acquired a new stake in Leonardo DRS during the 2nd quarter valued at approximately $11,093,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after acquiring an additional 384,522 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO John Baylouny sold 8,235 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.50, for a total value of $284,107.50. Following the completion of the sale, the chief operating officer now owns 81,863 shares of the company’s stock, valued at approximately $2,824,273.50. The trade was a 9.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction 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 approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,554 shares of company stock valued at $3,236,679. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on DRS shares. JPMorgan Chase & Co. lifted their price objective 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. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their price objective 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.17.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $34.69 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The company has a 50 day moving average price of $32.74 and a 200-day moving average price of $29.03. Leonardo DRS, Inc. has a 1-year low of $18.60 and a 1-year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million during 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%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. Equities research analysts forecast that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

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.