Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III Sells 45,000 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Leonardo DRS Trading Up 1.3 %

DRS stock opened at $34.90 on Wednesday. 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 twelve month low of $18.24 and a twelve month high of $37.99. The company has a market cap of $9.23 billion, a P/E ratio of 47.16, a PEG ratio of 1.78 and a beta of 0.97. The business has a fifty day moving average of $31.67 and a 200-day moving average of $28.32.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. As a group, equities research analysts expect that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on DRS. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and an average target price of $32.17.

Hedge Funds Weigh In On Leonardo DRS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC lifted its stake in shares of Leonardo DRS by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after purchasing an additional 354 shares during the period. Blair William & Co. IL grew its stake in shares of Leonardo DRS by 1.1% during the second quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock worth $940,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System increased its holdings in Leonardo DRS by 2.0% in the second quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock valued at $563,000 after purchasing an additional 424 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after buying an additional 432 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in Leonardo DRS by 1.3% during the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after buying an additional 435 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

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.