Legato Capital Management LLC Lowers Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Legato Capital Management LLC trimmed its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 39.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,419 shares of the company’s stock after selling 50,565 shares during the quarter. Legato Capital Management LLC’s holdings in Leonardo DRS were worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DRS. Geode Capital Management LLC lifted its holdings in shares of Leonardo DRS by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock worth $54,061,000 after buying an additional 51,014 shares in the last quarter. Franklin Resources Inc. increased its holdings in Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Leonardo DRS by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock worth $28,569,000 after purchasing an additional 82,049 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Leonardo DRS by 71.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 921,156 shares of the company’s stock valued at $25,995,000 after purchasing an additional 384,522 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Leonardo DRS by 28.2% during the third quarter. Van ECK Associates Corp now owns 557,672 shares of the company’s stock valued at $15,698,000 after purchasing an additional 122,836 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, CFO Michael Dippold sold 25,880 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the sale, the chief financial officer now owns 47,028 shares in the company, valued at $1,602,714.24. This trade represents a 35.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 of the company’s stock, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,612 shares of company stock worth $5,058,349. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

DRS has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird upped their price objective on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price 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. Three investment 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $34.44 on Wednesday. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The business has a 50 day simple moving average of $34.30 and a 200-day simple moving average of $31.40. Leonardo DRS, Inc. has a 1 year low of $19.57 and a 1 year high of $37.99.

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.