Van ECK Associates Corp Raises Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Van ECK Associates Corp lifted its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 736,896 shares of the company's stock after purchasing an additional 179,224 shares during the quarter. Van ECK Associates Corp owned 0.28% of Leonardo DRS worth $23,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Inc. AR boosted its stake in Leonardo DRS by 5.2% during the fourth quarter. Stephens Inc. AR now owns 13,308 shares of the company's stock worth $430,000 after buying an additional 652 shares during the period. Longboard Asset Management LP purchased a new position in Leonardo DRS during the fourth quarter worth $212,000. Jennison Associates LLC boosted its stake 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 period. McAdam LLC purchased a new position in Leonardo DRS during the fourth quarter worth $277,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in shares of Leonardo DRS during the fourth quarter worth $215,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Leonardo DRS Stock Down 1.7 %

Shares of DRS stock traded down $0.50 on Tuesday, hitting $28.57. The stock had a trading volume of 957,704 shares, compared to its average volume of 541,571. 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 business has a 50 day moving average price of $33.94 and a 200 day moving average price of $31.48. The company has a market cap of $7.55 billion, a PE ratio of 38.76, a P/E/G ratio of 1.51 and a beta of 1.01. Leonardo DRS, Inc. has a one year low of $19.88 and a one year high of $37.99.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric Salzman sold 3,477 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was 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 owns 13,262 shares of the company's stock, valued at $458,732.58. This represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,089 shares of company stock worth $5,178,619 over the last three months. 0.12% of the stock is owned by corporate 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.