Hennion & Walsh Asset Management Inc. Acquires Shares of 12,841 Leonardo DRS, Inc. (NASDAQ:DRS)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,841 shares of the company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Driehaus Capital Management LLC lifted its holdings in shares of Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after buying an additional 102,198 shares in the last quarter. Geode Capital Management LLC increased its position in Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after acquiring an additional 51,014 shares during the period. Franklin Resources Inc. raised its stake in Leonardo DRS by 16.6% in the 3rd 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. Charles Schwab Investment Management Inc. boosted its holdings in Leonardo DRS by 8.8% in the 3rd 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 during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Leonardo DRS by 71.7% during the 3rd 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. Institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

DRS has been the subject of a number of analyst reports. Robert W. Baird lifted their price target 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. Bank of America downgraded 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. Truist Financial raised their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Activity

In related news, CFO Michael Dippold sold 25,880 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the sale, the chief financial officer now directly owns 47,028 shares in the company, valued at $1,602,714.24. This represents a 35.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the transaction, the chief operating officer now directly owns 78,334 shares in the company, valued at $2,498,854.60. The trade was a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,083 shares of company stock worth $3,349,255. Insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Performance

NASDAQ:DRS opened at $35.61 on Tuesday. Leonardo DRS, Inc. has a twelve month low of $18.73 and a twelve month high of $37.99. 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 stock’s 50-day simple moving average is $34.16 and its 200 day simple moving average is $30.41. The firm has a market capitalization of $9.42 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) 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 net margin of 6.23% and a return on equity of 9.71%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, analysts anticipate that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Leonardo DRS 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.