Longboard Asset Management LP Acquires New Shares in Leonardo DRS, Inc. (NASDAQ:DRS)

Longboard Asset Management LP acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,548 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors have also recently bought and sold shares of DRS. Janus Henderson Group PLC boosted its holdings in shares of Leonardo DRS by 4.9% during 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. Franklin Resources Inc. boosted 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 purchasing an additional 176,326 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Leonardo DRS by 46.2% during the third quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock worth $5,537,000 after purchasing an additional 62,042 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Leonardo DRS by 71.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock worth $25,995,000 after purchasing an additional 384,522 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Leonardo DRS by 133.1% during the third quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock worth $4,850,000 after purchasing an additional 98,141 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Buying and Selling at Leonardo DRS

In other news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the sale, the chief operating officer now directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. The trade was a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $386,391.00. Following the sale, the senior vice president now directly owns 12,565 shares in the company, valued at approximately $437,387.65. The trade was a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,083 shares of company stock valued at $4,935,505 over the last three months. 0.12% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird lifted their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.00.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $35.12 on Wednesday. The business’s fifty day moving average price is $34.28 and its 200 day moving average price is $31.12. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a twelve month low of $18.73 and a twelve month high of $37.99. The stock has a market capitalization of $9.29 billion, a P/E ratio of 47.46, a PEG ratio of 1.55 and a beta of 1.01.

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.