Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, 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 of the company’s stock, valued at $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 is available through the SEC website.

Leonardo DRS Stock Performance

Shares of DRS traded up $0.44 during midday trading on Tuesday, reaching $34.90. 378,223 shares of the stock were exchanged, compared to its average volume of 622,215. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.78 and a beta of 0.97. Leonardo DRS, Inc. has a twelve month low of $18.24 and a twelve month high of $37.99. The business’s 50-day moving average price is $31.39 and its 200 day moving average price is $28.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DRS has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective 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. Finally, Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and upped their target price for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.17.

Institutional Investors Weigh In On Leonardo DRS

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Leonardo DRS by 97.2% during the 1st quarter. Janus Henderson Group PLC now owns 41,196 shares of the company’s stock valued at $909,000 after acquiring an additional 20,302 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Leonardo DRS by 33.9% in the 1st quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after purchasing an additional 19,673 shares in the last quarter. Comerica Bank lifted its stake in shares of Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares during the period. Nisa Investment Advisors LLC boosted its position in Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Leonardo DRS by 368.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after purchasing an additional 8,276 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.