Legato Capital Management LLC trimmed its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,419 shares of the company's stock after selling 50,565 shares during the period. Legato Capital Management LLC's holdings in Leonardo DRS were worth $2,469,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd increased its holdings in Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company's stock valued at $51,000 after purchasing an additional 1,259 shares in the last quarter. KBC Group NV increased its holdings in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after purchasing an additional 771 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Leonardo DRS in the 3rd quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leonardo DRS in the 3rd quarter valued at $113,000. Finally, Longboard Asset Management LP acquired a new stake in Leonardo DRS in the 4th quarter valued at $212,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.
Leonardo DRS Stock Down 9.6 %
Shares of DRS stock traded down $3.09 during trading hours on Friday, hitting $29.07. 1,648,379 shares of the company were exchanged, compared to its average volume of 462,580. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99. The business's 50-day simple moving average is $34.04 and its two-hundred day simple moving average is $31.43. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 1.51 and a beta of 1.01.
Insider Transactions at Leonardo DRS
In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Dippold sold 25,880 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.08, for a total transaction of $881,990.40. Following the completion of the transaction, the chief financial officer now directly owns 47,028 shares in the company, valued at $1,602,714.24. This represents a 35.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,089 shares of company stock valued at $5,178,619. Insiders own 0.12% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on DRS. Robert W. Baird raised their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Truist Financial raised their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.
Check Out Our Latest Analysis on DRS
Leonardo DRS Profile
(
Free Report)
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.
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