Janus Henderson Group PLC Has $8.24 Million Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Janus Henderson Group PLC lifted its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,871 shares of the company's stock after purchasing an additional 13,613 shares during the quarter. Janus Henderson Group PLC owned 0.11% of Leonardo DRS worth $8,236,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. ClearAlpha Technologies LP bought a new position in shares of Leonardo DRS during the third quarter worth about $308,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leonardo DRS during the third quarter worth about $113,000. Point72 Hong Kong Ltd bought a new position in shares of Leonardo DRS during the third quarter worth about $109,000. Edgestream Partners L.P. bought a new position in shares of Leonardo DRS during the third quarter worth about $344,000. Finally, Martingale Asset Management L P bought a new position in shares of Leonardo DRS during the third quarter worth about $1,988,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DRS shares. Bank of America lowered Leonardo DRS from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Robert W. Baird upped their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has a consensus rating of "Moderate Buy" and a consensus price target of $32.17.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS traded down $2.94 during midday trading on Monday, hitting $34.11. 881,523 shares of the company's stock were exchanged, compared to its average volume of 623,484. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 12 month low of $18.26 and a 12 month high of $37.99. The company's 50 day moving average price is $32.16 and its 200 day moving average price is $28.57. The firm has a market capitalization of $9.02 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. During the same period in the previous year, the company posted $0.20 EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts predict that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of Leonardo DRS 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 completion of the transaction, the chief executive officer now directly owns 234,937 shares of the company's stock, valued at $8,004,303.59. The trade was a 16.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value 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 $437,387.65. This represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,319 shares of company stock worth $2,952,572 in the last ninety days. 0.12% of the stock is owned by company insiders.

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.