Cerity Partners LLC Buys 354 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Cerity Partners LLC increased its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,051 shares of the company’s stock after acquiring an additional 354 shares during the period. Cerity Partners LLC’s holdings in Leonardo DRS were worth $961,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Leonardo DRS by 97.2% during the first quarter. Janus Henderson Group PLC now owns 41,196 shares of the company’s stock valued at $909,000 after purchasing an additional 20,302 shares during the period. California State Teachers Retirement System boosted its position in Leonardo DRS by 33.9% during the 1st quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after buying an additional 19,673 shares during the period. Comerica Bank grew its holdings in Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after acquiring an additional 527 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after acquiring an additional 1,074 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Leonardo DRS by 368.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after acquiring an additional 8,276 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DRS shares. JPMorgan Chase & Co. raised their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, Robert W. Baird upped their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.17.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $35.97 on Thursday. Leonardo DRS, Inc. has a fifty-two week low of $18.24 and a fifty-two week high of $37.99. The stock’s 50 day simple moving average is $31.84 and its two-hundred day simple moving average is $28.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.78 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million for 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%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, analysts expect that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Leonardo DRS

In related news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the sale, the chief executive officer now owns 234,937 shares in the company, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sally Wallace sold 4,339 shares of the business’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 transaction of $151,040.59. Following the sale, the executive vice president now owns 30,102 shares of the company’s stock, valued at $1,047,850.62. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,319 shares of company stock valued at $2,952,572 in the last three months. 0.12% of the stock is currently owned by company insiders.

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.