McAdam LLC Buys New Position in Leonardo DRS, Inc. (NASDAQ:DRS)

McAdam LLC purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 8,568 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Covestor Ltd grew its position in Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after acquiring an additional 1,259 shares in the last quarter. KBC Group NV lifted its stake in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after purchasing an additional 771 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Leonardo DRS in the 3rd quarter worth about $109,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leonardo DRS during the 3rd quarter valued at about $113,000. Finally, New York State Teachers Retirement System raised its holdings in shares of 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 valued at $190,000 after buying an additional 432 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $35.15 on Monday. 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 company’s fifty day simple moving average is $34.29 and its two-hundred day simple moving average is $31.05. The firm has a market cap of $9.29 billion, a PE ratio of 47.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. Leonardo DRS, Inc. has a 12-month low of $18.73 and a 12-month high of $37.99.

Wall Street Analysts Forecast Growth

DRS has been the subject of several research reports. Truist Financial upped their target price on Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird upped their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Leonardo DRS presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at Leonardo DRS

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

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.