Barclays PLC Acquires 106,565 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Barclays PLC increased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 148.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 178,331 shares of the company's stock after acquiring an additional 106,565 shares during the period. Barclays PLC owned approximately 0.07% of Leonardo DRS worth $5,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DRS. Cerity Partners LLC lifted its position in Leonardo DRS by 1.1% during the third 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 last quarter. Blair William & Co. IL lifted its position in Leonardo DRS by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company's stock worth $940,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System boosted its stake in Leonardo DRS by 2.0% in the second quarter. Arizona State Retirement System now owns 22,056 shares of the company's stock worth $563,000 after buying an additional 424 shares in the last quarter. New York State Teachers Retirement System grew its position in Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company's stock valued at $190,000 after acquiring an additional 432 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of 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 acquiring an additional 435 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the completion of the transaction, the chief executive officer now owns 234,937 shares of the company's stock, valued at approximately $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sally Wallace sold 4,339 shares of Leonardo DRS stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $151,040.59. Following the transaction, the executive vice president now owns 30,102 shares of the company's stock, valued at $1,047,850.62. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,554 shares of company stock worth $3,236,679 over the last three months. Company insiders own 0.12% of the company's stock.

Leonardo DRS Trading Up 3.2 %

NASDAQ DRS traded up $1.03 on Friday, hitting $32.98. The company's stock had a trading volume of 1,618,384 shares, compared to its average volume of 626,987. The firm has a market cap of $8.72 billion, a P/E ratio of 44.57, a PEG ratio of 1.76 and a beta of 0.97. Leonardo DRS, Inc. has a 52-week low of $18.60 and a 52-week high of $37.99. The company's 50-day simple moving average is $32.98 and its 200 day simple moving average is $29.21. 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 (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. 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 firm earned $0.20 EPS. Research analysts predict that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Leonardo DRS 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.