Wellington Management Group LLP Sells 405,065 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Wellington Management Group LLP trimmed its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 22.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,391,118 shares of the company's stock after selling 405,065 shares during the period. Wellington Management Group LLP owned about 0.53% of Leonardo DRS worth $39,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DRS. Nisa Investment Advisors LLC raised its stake in shares of Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company's stock worth $29,000 after purchasing an additional 1,074 shares during the period. Covestor Ltd raised its position in Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company's stock worth $51,000 after acquiring an additional 1,259 shares during the period. KBC Group NV boosted its stake in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company's stock valued at $73,000 after acquiring an additional 771 shares during the last quarter. Comerica Bank boosted its stake in Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company's stock valued at $61,000 after acquiring an additional 527 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Leonardo DRS during the 3rd quarter worth approximately $109,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DRS. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Robert W. Baird increased their target price 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, Bank of America lowered shares of Leonardo DRS from a "buy" rating to a "neutral" rating and boosted their price target for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $32.17.

Insider Transactions at Leonardo DRS

In related news, CFO Michael Dippold sold 25,880 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,533,150.00. Following the transaction, the chief executive officer now owns 234,937 shares in the company, valued at $8,004,303.59. This represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,319 shares of company stock worth $2,952,572. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Trading Down 2.3 %

Shares of Leonardo DRS stock traded down $0.79 on Thursday, hitting $34.30. The stock had a trading volume of 219,572 shares, compared to its average volume of 620,703. The stock's 50-day simple moving average is $32.48 and its two-hundred day simple moving average is $28.77. Leonardo DRS, Inc. has a one year low of $18.60 and a one year high of $37.99. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 1.91 and a beta of 0.97. 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 (NASDAQ:DRS - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, sell-side analysts predict that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

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.