Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) Director Sells $120,269.43 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) Director Eric Salzman sold 3,477 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the sale, the director now owns 13,262 shares in the company, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Leonardo DRS Trading Down 9.6 %

Shares of NASDAQ DRS opened at $29.07 on Friday. The company has a market cap of $7.69 billion, a PE ratio of 39.28, a P/E/G ratio of 1.51 and a beta of 1.01. 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 firm’s 50 day moving average price is $34.20 and its 200-day moving average price is $31.42. Leonardo DRS, Inc. has a 52-week low of $19.88 and a 52-week high of $37.99.

Hedge Funds Weigh In On Leonardo DRS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Leonardo DRS by 4.9% in the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock worth $8,236,000 after purchasing an additional 13,613 shares during the last quarter. Jennison Associates LLC increased its holdings in Leonardo DRS by 31.0% in the 4th quarter. Jennison Associates LLC now owns 32,647 shares of the company’s stock worth $1,055,000 after buying an additional 7,728 shares in the last quarter. Franklin Resources Inc. raised its position 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 buying an additional 176,326 shares during the last quarter. Citigroup Inc. lifted its stake in Leonardo DRS by 46.2% during the 3rd quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock valued at $5,537,000 after acquiring an additional 62,042 shares during the period. Finally, McAdam LLC purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at about $277,000. 18.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Robert W. Baird lifted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price target on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Three investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.