Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Fmr LLC

FMR LLC lowered its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 39.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,220,951 shares of the company's stock after selling 779,197 shares during the period. FMR LLC owned about 0.46% of Leonardo DRS worth $34,455,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DRS. California State Teachers Retirement System raised its stake in shares of Leonardo DRS by 33.9% during the 1st quarter. California State Teachers Retirement System now owns 77,704 shares of the company's stock valued at $1,716,000 after buying an additional 19,673 shares during the last quarter. Comerica Bank increased its stake in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company's stock valued at $61,000 after purchasing an additional 527 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company's stock valued at $29,000 after purchasing an additional 1,074 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Leonardo DRS by 368.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company's stock valued at $268,000 after purchasing an additional 8,276 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Leonardo DRS by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 315,335 shares of the company's stock valued at $8,044,000 after purchasing an additional 27,245 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In other news, SVP Pamela Morrow sold 11,100 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total transaction of $386,391.00. Following the sale, the senior vice president now owns 12,565 shares of the company's stock, valued at approximately $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 234,937 shares in the company, valued at $8,004,303.59. This represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,319 shares of company stock valued at $2,952,572 over the last quarter. 0.12% of the stock is owned by company insiders.

Leonardo DRS Trading Down 7.9 %

DRS traded down $2.94 during trading hours on Monday, reaching $34.11. The company's stock had a trading volume of 881,523 shares, compared to its average volume of 623,484. Leonardo DRS, Inc. has a fifty-two week low of $18.26 and a fifty-two week high of $37.99. The stock has a market cap of $9.02 billion, a PE ratio of 46.09, a P/E/G ratio of 1.91 and a beta of 0.97. The business's 50-day moving average is $32.16 and its 200-day moving average is $28.57. 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 (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $812.00 million for the quarter, compared to analysts' expectations of $775.44 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm's quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts predict that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DRS has been the subject of several recent analyst reports. Bank of America lowered Leonardo DRS from a "buy" rating to a "neutral" rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a "neutral" rating in a research note 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 research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and an average price target of $32.17.

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.