Zacks Investment Management Makes New $1.38 Million Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Zacks Investment Management bought a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 48,923 shares of the company's stock, valued at approximately $1,381,000.

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

Leonardo DRS Trading Up 0.4 %

Shares of DRS stock traded up $0.15 on Tuesday, hitting $34.26. 536,705 shares of the stock traded hands, compared to its average volume of 623,124. Leonardo DRS, Inc. has a twelve month low of $18.26 and a twelve month high of $37.99. The stock has a market capitalization of $9.06 billion, a PE ratio of 46.30, a PEG ratio of 1.91 and a beta of 0.97. The firm's 50-day moving average price is $32.28 and its two-hundred day moving average price is $28.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DRS. Bank of America lowered shares of Leonardo DRS from a "buy" rating to a "neutral" rating and upped their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped 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. Finally, Robert W. Baird raised their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.17.

Insider Buying and Selling

In other Leonardo DRS news, CFO Michael Dippold sold 25,880 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the sale, the chief financial officer now owns 47,028 shares of the company's stock, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lynn III sold 45,000 shares of the company's 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 transaction, the chief executive officer now owns 234,937 shares in the company, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,319 shares of company stock worth $2,952,572. Company insiders own 0.12% of the company's stock.

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.