Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) SVP Sells 11,100 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the completion of the transaction, the senior vice president now directly owns 12,565 shares in the company, valued at $437,387.65. This trade represents a 46.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Leonardo DRS Price Performance

Shares of 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. Leonardo DRS, Inc. has a 12-month low of $18.24 and a 12-month high of $37.99. The firm has a fifty day moving average of $31.84 and a 200-day moving average of $28.38. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities research analysts forecast that Leonardo DRS, Inc. will post 0.92 earnings per share for the current year.

Institutional Trading of Leonardo DRS

Several hedge funds have recently bought and sold shares of DRS. Driehaus Capital Management LLC increased its holdings in Leonardo DRS by 4.7% during the 2nd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 51,014 shares during the period. Franklin Resources Inc. grew its holdings in shares of Leonardo DRS by 16.6% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 82,049 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Leonardo DRS by 71.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after acquiring an additional 384,522 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Robert W. Baird upped their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.