Fmr LLC Reduces Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Fmr LLC lowered its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 39.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,220,951 shares of the company’s stock after selling 779,197 shares during the quarter. Fmr LLC owned about 0.46% of Leonardo DRS worth $34,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DRS. Dimensional Fund Advisors LP bought a new position in shares of Leonardo DRS in the second quarter worth approximately $16,916,000. Van ECK Associates Corp bought a new position in Leonardo DRS in the 2nd quarter valued at approximately $11,093,000. Victory Capital Management Inc. increased its holdings in shares of Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock worth $3,286,000 after purchasing an additional 106,999 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of Leonardo DRS by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after purchasing an additional 102,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Leonardo DRS by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after purchasing an additional 82,049 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Leonardo DRS

In related news, 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 transaction of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares in the company, valued at approximately $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,319 shares of company stock valued at $2,952,572. 0.12% of the stock is owned by company insiders.

Leonardo DRS Trading Up 6.1 %

NASDAQ DRS opened at $37.05 on Monday. The company has a 50 day moving average price of $32.16 and a 200 day moving average price of $28.57. The firm has a market cap of $9.80 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 1.85 and a beta of 0.97. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 52 week low of $18.24 and a 52 week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 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 company had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 0.92 EPS 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.