Jacobs Levy Equity Management Inc. Has $26 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Jacobs Levy Equity Management Inc. increased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 71.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 921,156 shares of the company's stock after acquiring an additional 384,522 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.35% of Leonardo DRS worth $25,995,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Leonardo DRS by 1,325.9% in the second 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 during the last quarter. Covestor Ltd increased its holdings in Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company's stock valued at $51,000 after purchasing an additional 1,259 shares during the last quarter. Comerica Bank increased its holdings in Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company's stock valued at $61,000 after purchasing an additional 527 shares during the last quarter. KBC Group NV increased its holdings in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after purchasing an additional 771 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Leonardo DRS in the third quarter valued at about $109,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In related news, SVP Pamela Morrow sold 11,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sally Wallace sold 4,339 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $151,040.59. Following the transaction, the executive vice president now directly owns 30,102 shares of the company's stock, valued at $1,047,850.62. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,319 shares of company stock valued at $2,952,572 over the last three months. Company insiders own 0.12% of the company's stock.

Leonardo DRS Stock Up 1.3 %

Shares of DRS stock traded up $0.44 on Wednesday, hitting $35.34. 164,757 shares of the stock were exchanged, compared to its average volume of 620,221. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.34 billion, a P/E ratio of 47.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business has a 50-day moving average of $31.67 and a 200 day moving average of $28.32. Leonardo DRS, Inc. has a fifty-two week low of $18.24 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted 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 company 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%. Leonardo DRS's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities analysts anticipate that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

DRS has been the subject of a number of recent analyst reports. Bank of America downgraded Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price objective for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target 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 increased their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.