Hennion & Walsh Asset Management Inc. Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Hennion & Walsh Asset Management Inc. bought a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 12,841 shares of the company’s stock, valued at approximately $415,000.

Several other large investors have also added to or reduced their stakes in DRS. Covestor Ltd boosted its holdings in shares of 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 buying an additional 1,259 shares in the last quarter. KBC Group NV lifted its position in shares of Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after acquiring an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new position in Leonardo DRS during the third quarter worth $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leonardo DRS in the third quarter worth $113,000. Finally, New York State Teachers Retirement System increased its stake in Leonardo DRS by 6.9% in 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 in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the sale, the chief operating officer now directly owns 78,334 shares in the company, valued at $2,498,854.60. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 234,937 shares in the company, 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. Over the last ninety days, insiders have sold 98,083 shares of company stock worth $3,349,255. 0.12% of the stock is owned by insiders.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $35.61 on Tuesday. Leonardo DRS, Inc. has a 52 week low of $18.73 and a 52 week high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $34.16 and a 200-day moving average price of $30.41. The company has a market cap of $9.42 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. Leonardo DRS’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. Equities analysts anticipate that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DRS shares. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Truist Financial increased their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird boosted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Bank of America cut 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and an average price target of $33.00.

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.