Charles Schwab Investment Management Inc. Buys 82,049 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Charles Schwab Investment Management Inc. raised its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,012,370 shares of the company’s stock after buying an additional 82,049 shares during the period. Charles Schwab Investment Management Inc. owned about 0.38% of Leonardo DRS worth $28,569,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of Leonardo DRS in the 3rd quarter valued at about $407,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Leonardo DRS in the 3rd quarter valued at about $402,000. Jennison Associates LLC bought a new stake in shares of Leonardo DRS in the 3rd quarter valued at about $703,000. Quest Partners LLC bought a new stake in shares of Leonardo DRS in the 3rd quarter valued at about $449,000. Finally, Chesapeake Capital Corp IL boosted its position in shares of Leonardo DRS by 28.4% during the 3rd quarter. Chesapeake Capital Corp IL now owns 10,465 shares of the company’s stock valued at $292,000 after purchasing an additional 2,315 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DRS shares. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and upped their target price for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. 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 research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Insider Transactions at Leonardo DRS

In other news, EVP Sally Wallace sold 4,339 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $151,040.59. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Dippold sold 25,880 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the sale, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at $1,602,714.24. This represents a 35.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,319 shares of company stock valued at $2,952,572 over the last three months. Company insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $35.97 on Thursday. 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 company has a market cap of $9.51 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business has a 50 day moving average price of $31.84 and a 200-day moving average price of $28.38. Leonardo DRS, Inc. has a 52 week low of $18.24 and a 52 week high of $37.99.

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

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.