Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells 45,000 Shares of Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

William Lynn III also recently made the following trade(s):

• On Monday, December 2nd, William Lynn III sold 45,000 shares of Leonardo DRS stock. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00.

Leonardo DRS Trading Down 0.3 %

Shares of Leonardo DRS stock traded down $0.11 during trading on Monday, reaching $35.04. 389,037 shares of the stock were exchanged, compared to its average volume of 467,196. Leonardo DRS, Inc. has a 1 year low of $18.73 and a 1 year high of $37.99. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 47.35, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $34.29 and its 200 day moving average is $31.07.

Institutional Investors Weigh In On Leonardo DRS

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after buying an additional 51,014 shares during the period. Franklin Resources Inc. lifted its stake in Leonardo DRS by 16.6% in the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after acquiring an additional 176,326 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Leonardo DRS by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after acquiring an additional 82,049 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in 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 period. Finally, Van ECK Associates Corp raised its holdings in Leonardo DRS by 32.1% in the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after purchasing an additional 179,224 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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.