Jacobs Levy Equity Management Inc. Acquires 384,522 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 71.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 921,156 shares of the company’s stock after purchasing an additional 384,522 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Leonardo DRS were worth $25,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Leonardo DRS during the 2nd quarter worth about $16,916,000. Van ECK Associates Corp bought a new position in Leonardo DRS in the 2nd quarter valued at about $11,093,000. Victory Capital Management Inc. lifted its position in Leonardo DRS by 1,133.6% during the third quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock worth $3,286,000 after acquiring an additional 106,999 shares during the last quarter. Driehaus Capital Management LLC boosted 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 acquiring an additional 102,198 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Leonardo DRS by 8.8% in 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 during the last quarter. 18.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DRS shares. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.17.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $34.90 on Wednesday. The business has a fifty day moving average price of $31.67 and a two-hundred day moving average price of $28.32. The stock has a market capitalization of $9.23 billion, a PE 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 fifty-two week low of $18.24 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating 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 business had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Leonardo DRS’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Leonardo DRS

In other news, CFO Michael Dippold sold 25,880 shares of Leonardo DRS 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 transaction, the chief financial officer now owns 47,028 shares in the company, valued at approximately $1,602,714.24. This trade represents a 35.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total value of $1,533,150.00. Following the sale, the chief executive officer now owns 234,937 shares of the company’s stock, valued at approximately $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,319 shares of company stock valued at $2,952,572. Company insiders own 0.12% of the company’s stock.

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.