Van ECK Associates Corp Boosts Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Van ECK Associates Corp boosted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 32.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 736,896 shares of the company’s stock after buying an additional 179,224 shares during the period. Van ECK Associates Corp’s holdings in Leonardo DRS were worth $23,809,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DRS. Jacobs Levy Equity Management Inc. grew its stake in Leonardo DRS by 71.7% during the third 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 in the last quarter. Franklin Resources Inc. lifted its position in Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares during the last quarter. Victory Capital Management Inc. lifted its position in Leonardo DRS by 1,133.6% during the third quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock valued at $3,286,000 after purchasing an additional 106,999 shares during the last quarter. Barclays PLC lifted its position in Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company’s stock valued at $5,032,000 after purchasing an additional 106,565 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Leonardo DRS by 133.1% during the third quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock valued at $4,850,000 after purchasing an additional 98,141 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $29.07 on Friday. The firm has a 50-day moving average price of $34.20 and a 200-day moving average price of $31.42. The firm has a market capitalization of $7.69 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. 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, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99.

Wall Street Analysts Forecast Growth

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

Insider Activity at Leonardo DRS

In related news, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS 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 sale, the senior vice president now owns 12,565 shares in the company, valued at $437,387.65. This trade represents a 46.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This trade represents a 20.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,089 shares of company stock worth $5,178,619 in the last 90 days. 0.12% of the stock is owned by corporate 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.