Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 802,920 shares of the company's stock after selling 151,296 shares during the period. Stephens Investment Management Group LLC owned approximately 0.30% of Leonardo DRS worth $25,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors 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 during 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 during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Leonardo DRS in the 3rd quarter valued at approximately $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Leonardo DRS in the 3rd quarter valued at approximately $113,000. Finally, Longboard Asset Management LP acquired a new stake in Leonardo DRS in the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on DRS. Truist Financial lifted their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Robert W. Baird lifted their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Insider Buying and Selling at Leonardo DRS

In other news, CFO Michael Dippold sold 25,880 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total transaction of $881,990.40. Following the completion of the sale, the chief financial officer now directly owns 47,028 shares of the company's stock, valued at approximately $1,602,714.24. The trade was a 35.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the sale, the chief operating officer now directly owns 78,334 shares of the company's stock, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,089 shares of company stock valued at $5,178,619 in the last 90 days. Company insiders own 0.12% of the company's stock.

Leonardo DRS Stock Down 4.3 %

DRS stock traded down $1.46 during midday trading on Thursday, hitting $32.16. The company's stock had a trading volume of 1,074,923 shares, compared to its average volume of 491,607. 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 52-week low of $19.73 and a 52-week high of $37.99. The firm has a market capitalization of $8.50 billion, a P/E ratio of 43.46, a PEG ratio of 1.51 and a beta of 1.01. The firm has a 50-day simple moving average of $34.26 and a 200-day simple moving average of $31.42.

Leonardo DRS Company 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.