Robeco Institutional Asset Management B.V. Makes New $213,000 Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Robeco Institutional Asset Management B.V. bought a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,590 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors have also modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in Leonardo DRS by 4.9% in the third 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Citigroup Inc. grew its stake in shares of Leonardo DRS by 46.2% during the third quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock worth $5,537,000 after purchasing an additional 62,042 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after purchasing an additional 384,522 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Leonardo DRS by 133.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock worth $4,850,000 after buying an additional 98,141 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William Lynn III sold 45,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 owns 234,937 shares in the company, valued at approximately $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pamela Morrow sold 11,100 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,083 shares of company stock valued at $4,935,505. Insiders own 0.12% of the company’s stock.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $35.12 on Wednesday. The stock has a 50 day moving average of $34.28 and a two-hundred day moving average of $31.12. The stock has a market cap of $9.29 billion, a P/E ratio of 47.46, a P/E/G ratio of 1.55 and a beta of 1.01. Leonardo DRS, Inc. has a twelve month low of $18.73 and a twelve month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DRS. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target 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. Finally, Truist Financial increased their price target 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

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.