58,500 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,500 shares of the company’s stock, valued at approximately $1,651,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP acquired a new stake in Leonardo DRS in the second quarter valued at $16,916,000. Van ECK Associates Corp acquired a new stake in Leonardo DRS in the second quarter valued at $11,093,000. Jacobs Levy Equity Management Inc. grew its holdings in Leonardo DRS by 71.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after purchasing an additional 384,522 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Leonardo DRS by 1,133.6% in the third quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock valued at $3,286,000 after purchasing an additional 106,999 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Leonardo DRS by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after purchasing an additional 102,198 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Wall Street Analysts Forecast Growth

DRS has been the topic of several research reports. Robert W. Baird upped their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Leonardo DRS Stock Performance

NASDAQ DRS opened at $34.26 on Wednesday. The business’s 50-day moving average price is $32.28 and its 200 day moving average price is $28.65. Leonardo DRS, Inc. has a twelve month low of $18.26 and a twelve month high of $37.99. The company has a market capitalization of $9.06 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share 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 firm had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that Leonardo DRS, Inc. will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO William Lynn III sold 45,000 shares of the firm’s stock in a transaction dated 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 directly owns 234,937 shares in the company, valued at $8,004,303.59. This trade represents a 16.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was 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 owns 12,565 shares in the company, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,319 shares of company stock worth $2,952,572. 0.12% of the stock is owned by company insiders.

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.