Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Leonardo DRS Trading Up 1.3 %

Shares of DRS traded up $0.44 during mid-day trading on Tuesday, reaching $34.90. 378,223 shares of the company’s stock traded hands, compared to its average volume of 622,215. The stock’s 50-day moving average is $31.39 and its two-hundred day moving average is $28.16. The stock has a market cap of $9.23 billion, a P/E ratio of 47.16, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 12 month low of $18.24 and a 12 month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its 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. The business 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 company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Research analysts forecast that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Leonardo DRS

A number of hedge funds have recently added to or reduced their stakes in DRS. Janus Henderson Group PLC grew its stake in Leonardo DRS by 97.2% in 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 last quarter. California State Teachers Retirement System grew its stake 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 purchasing an additional 19,673 shares during the last quarter. Comerica Bank increased its holdings in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in Leonardo DRS by 368.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after buying an additional 8,276 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DRS has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and upped their price target for the stock from $26.00 to $30.00 in a research 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 company an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.17.

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.