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

Legato Capital Management LLC reduced its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 39.8% during the 4th quarter, HoldingsChannel reports. The firm owned 76,419 shares of the company’s stock after selling 50,565 shares during the period. Legato Capital Management LLC’s holdings in Leonardo DRS were worth $2,469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DRS. Covestor Ltd increased its holdings in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after buying an additional 1,259 shares during the period. KBC Group NV increased its holdings in shares of Leonardo DRS by 42.5% in the 3rd 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. Point72 Hong Kong Ltd purchased a new position in shares of Leonardo DRS in the 3rd quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leonardo DRS in the 3rd quarter worth $113,000. Finally, New York State Teachers Retirement System lifted its stake 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 worth $190,000 after purchasing an additional 432 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on DRS shares. JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Truist Financial increased their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird raised their price objective 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling

In other news, CEO William Lynn III sold 45,000 shares of Leonardo DRS stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the completion of the transaction, the chief executive officer now directly owns 189,937 shares of the company’s stock, valued at $6,695,279.25. The trade was a 19.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the transaction, the chief operating officer now owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,612 shares of company stock worth $5,058,349 in the last 90 days. Insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Down 1.1 %

NASDAQ:DRS opened at $34.44 on Wednesday. The company’s 50 day moving average is $34.30 and its two-hundred day moving average is $31.40. The company has a market cap of $9.11 billion, a PE ratio of 46.54, a P/E/G ratio of 1.51 and a beta of 1.01. Leonardo DRS, Inc. has a twelve month low of $19.57 and a twelve month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

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.