Great Lakes Advisors LLC Sells 117,131 Shares of Leonardo DRS, Inc. $DRS

Great Lakes Advisors LLC cut its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 50.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,044 shares of the company’s stock after selling 117,131 shares during the quarter. Great Lakes Advisors LLC’s holdings in Leonardo DRS were worth $5,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Leonardo DRS by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,817 shares of the company’s stock valued at $1,441,000 after buying an additional 1,922 shares in the last quarter. Millennium Management LLC lifted its position in Leonardo DRS by 29.0% during the 1st quarter. Millennium Management LLC now owns 369,749 shares of the company’s stock valued at $12,157,000 after acquiring an additional 83,077 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Leonardo DRS by 9.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,474 shares of the company’s stock worth $4,882,000 after acquiring an additional 12,712 shares in the last quarter. Intech Investment Management LLC grew its holdings in Leonardo DRS by 18.6% in the first quarter. Intech Investment Management LLC now owns 48,560 shares of the company’s stock worth $1,597,000 after purchasing an additional 7,625 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Leonardo DRS in the first quarter worth about $225,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Sally Wallace sold 1,300 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $35.17, for a total transaction of $45,721.00. Following the completion of the sale, the executive vice president owned 58,353 shares in the company, valued at approximately $2,052,275.01. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Dippold sold 10,588 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $37.00, for a total value of $391,756.00. Following the completion of the transaction, the chief financial officer directly owned 42,952 shares in the company, valued at approximately $1,589,224. This represents a 19.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

Leonardo DRS Price Performance

DRS opened at $41.06 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.63 and a current ratio of 2.00. The stock has a market capitalization of $10.92 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.06 and a beta of 0.44. The company’s 50-day simple moving average is $36.66 and its two-hundred day simple moving average is $39.75. Leonardo DRS, Inc. has a 52-week low of $28.17 and a 52-week high of $49.31.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.37%. The firm had revenue of $960.00 million during the quarter, compared to analyst estimates of $924.79 million. During the same period in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Analyst Ratings Changes

DRS has been the topic of a number of analyst reports. Truist Financial set a $54.00 price target on Leonardo DRS in a research report on Friday, January 9th. Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Leonardo DRS in a report on Monday, December 29th. Zacks Research lowered Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price objective on shares of Leonardo DRS in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.14.

About Leonardo DRS

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.