Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC trimmed its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 802,920 shares of the company’s stock after selling 151,296 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.30% of Leonardo DRS worth $25,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after purchasing an additional 1,259 shares during the period. KBC Group NV boosted its stake in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Leonardo DRS in the 3rd quarter valued at about $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Leonardo DRS during the 3rd quarter valued at about $113,000. Finally, Longboard Asset Management LP purchased a new position in shares of Leonardo DRS during the 4th quarter worth about $212,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Leonardo DRS news, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $35.25, for a total value of $1,586,250.00. Following the completion of the transaction, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at $6,695,279.25. This represents a 19.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sally Wallace sold 4,339 shares of Leonardo DRS stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $151,040.59. Following the sale, the executive vice president now directly owns 30,102 shares in the company, valued at approximately $1,047,850.62. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,083 shares of company stock worth $4,935,505. 0.12% of the stock is currently owned by corporate insiders.

Leonardo DRS Stock Up 1.1 %

Shares of NASDAQ DRS opened at $34.62 on Monday. The stock has a fifty day moving average price of $34.30 and a 200 day moving average price of $31.29. 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, Inc. has a 12-month low of $19.24 and a 12-month high of $37.99. The company has a market cap of $9.15 billion, a P/E ratio of 46.78, a P/E/G ratio of 1.51 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of 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. upped 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. Finally, Truist Financial lifted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Three 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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.