Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 8.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,012,370 shares of the company's stock after buying an additional 82,049 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.38% of Leonardo DRS worth $28,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. 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 valued at $940,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Leonardo DRS by 2.0% during the second quarter. Arizona State Retirement System now owns 22,056 shares of the company's stock valued at $563,000 after buying an additional 424 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of 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 buying an additional 432 shares during the last quarter. Comerica Bank grew its stake in Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company's stock worth $61,000 after purchasing an additional 527 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Leonardo DRS by 7.1% in the third quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company's stock worth $252,000 after purchasing an additional 589 shares in the last quarter. Institutional investors own 18.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DRS. JPMorgan Chase & Co. increased 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. Bank of America cut Leonardo DRS from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Robert W. Baird increased their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.17.

Leonardo DRS Stock Down 2.9 %

NASDAQ DRS traded down $1.04 during midday trading on Thursday, hitting $34.93. 496,826 shares of the company traded hands, compared to its average volume of 621,295. Leonardo DRS, Inc. has a 52 week low of $18.24 and a 52 week high of $37.99. The company's 50-day simple moving average is $31.84 and its 200-day simple moving average is $28.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The company has a market cap of $9.24 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that Leonardo DRS, Inc. will post 0.92 earnings per share for the current year.

Insider Activity

In related news, EVP Sally Wallace sold 4,339 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $151,040.59. Following the completion of the transaction, the executive vice president now owns 30,102 shares in the company, valued at $1,047,850.62. This trade represents a 12.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Lynn III sold 45,000 shares of the firm'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 completion of the transaction, the chief executive officer now owns 234,937 shares of the company's stock, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,319 shares of company stock worth $2,952,572. 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.