McAdam LLC Invests $277,000 in Leonardo DRS, Inc. (NASDAQ:DRS)

McAdam LLC acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,568 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after buying an additional 1,259 shares during the period. KBC Group NV grew its position in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after purchasing an additional 771 shares during the period. Point72 Hong Kong Ltd bought a new stake in Leonardo DRS during the 3rd quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leonardo DRS during the third quarter worth $113,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after buying an additional 432 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $35.15 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 47.50, a P/E/G ratio of 1.55 and a beta of 1.01. Leonardo DRS, Inc. has a 52 week low of $18.73 and a 52 week high of $37.99. The firm’s 50-day simple moving average is $34.29 and its two-hundred day simple moving average is $31.05.

Insider Buying and Selling

In related news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the transaction, the chief operating officer now directly owns 78,334 shares in the company, valued at approximately $2,498,854.60. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now directly owns 234,937 shares in the company, valued at $8,004,303.59. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,083 shares of company stock valued at $3,349,255. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock 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 stock a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their price target on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Leonardo DRS currently has a consensus rating of “Moderate Buy” and an average price target 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.