Leonardo DRS, Inc. (NASDAQ:DRS) Stock Position Reduced by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC trimmed its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 15.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 802,920 shares of the company’s stock after selling 151,296 shares during the period. Stephens Investment Management Group LLC’s holdings in Leonardo DRS were worth $25,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC grew its holdings in shares of Leonardo DRS by 1.1% during the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after purchasing an additional 354 shares during the last quarter. New York State Teachers Retirement System grew its stake in Leonardo DRS by 6.9% during the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after buying an additional 432 shares during the last quarter. Glenmede Trust Co. NA increased its position in Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock worth $958,000 after buying an additional 435 shares during the period. Verdence Capital Advisors LLC lifted its stake in Leonardo DRS by 7.1% in the third quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company’s stock valued at $252,000 after buying an additional 589 shares during the last quarter. Finally, KBC Group NV boosted its holdings 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 valued at $73,000 after acquiring an additional 771 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 sale, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at approximately $6,695,279.25. This represents a 19.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $34.81, for a total transaction of $386,391.00. Following the transaction, the senior vice president now owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,083 shares of company stock worth $4,935,505 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DRS. JPMorgan Chase & Co. lifted their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Leonardo DRS Trading Up 1.1 %

Shares of NASDAQ:DRS opened at $34.62 on Monday. The company has a 50 day moving average of $34.30 and a 200-day moving average 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. The firm 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. Leonardo DRS, Inc. has a twelve month low of $19.24 and a twelve month high of $37.99.

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.