Jennison Associates LLC Grows Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Jennison Associates LLC grew its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,647 shares of the company's stock after acquiring an additional 7,728 shares during the quarter. Jennison Associates LLC's holdings in Leonardo DRS were worth $1,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its holdings in shares of Leonardo DRS by 71.7% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its holdings in Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company's stock worth $35,371,000 after buying an additional 176,326 shares in the last quarter. Van ECK Associates Corp raised its position in Leonardo DRS by 28.2% in the 3rd quarter. Van ECK Associates Corp now owns 557,672 shares of the company's stock worth $15,698,000 after buying an additional 122,836 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Leonardo DRS by 1,133.6% during the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company's stock valued at $3,286,000 after acquiring an additional 106,999 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Leonardo DRS by 148.5% during the 3rd quarter. Barclays PLC now owns 178,331 shares of the company's stock valued at $5,032,000 after acquiring an additional 106,565 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

Insider Activity at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00. Following the completion of the sale, the chief executive officer now owns 189,937 shares in the company, valued at approximately $6,695,279.25. This trade represents a 19.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Dippold sold 25,880 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.08, for a total transaction of $881,990.40. Following the transaction, the chief financial officer now owns 47,028 shares in the company, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,083 shares of company stock valued at $4,935,505. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DRS. JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Truist Financial upped their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird boosted their target price 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Leonardo DRS Price Performance

Leonardo DRS stock traded up $0.22 during mid-day trading on Monday, reaching $34.84. 415,364 shares of the company's stock traded hands, compared to its average volume of 476,827. Leonardo DRS, Inc. has a 12-month low of $19.57 and a 12-month high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $34.30 and a two-hundred day moving average of $31.31. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 1.51 and a beta of 1.01.

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.