Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) Director Sells 3,477 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) Director Eric Salzman sold 3,477 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Leonardo DRS Stock Down 9.6 %

Shares of DRS stock traded down $3.09 on Friday, hitting $29.07. The stock had a trading volume of 1,648,379 shares, compared to its average volume of 462,580. The business has a 50 day moving average of $34.04 and a 200 day moving average of $31.45. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. 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, Inc. has a 12-month low of $19.88 and a 12-month high of $37.99.

Institutional Trading of Leonardo DRS

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in Leonardo DRS by 31.0% during the fourth quarter. Jennison Associates LLC now owns 32,647 shares of the company's stock worth $1,055,000 after buying an additional 7,728 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Leonardo DRS by 4.9% during the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company's stock worth $8,236,000 after buying an additional 13,613 shares during the last quarter. Franklin Resources Inc. increased its holdings in Leonardo DRS by 16.6% during the third 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 during the last quarter. Citigroup Inc. increased its holdings in Leonardo DRS by 46.2% during the third quarter. Citigroup Inc. now owns 196,223 shares of the company's stock worth $5,537,000 after buying an additional 62,042 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Leonardo DRS by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 736,896 shares of the company's stock worth $23,809,000 after buying an additional 179,224 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on DRS shares. JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Truist Financial raised their price objective on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

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.