Insider Selling: Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells $1,586,250.00 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $35.25, for a total transaction of $1,586,250.00. Following the transaction, the chief executive officer now directly owns 189,937 shares in the company, valued at $6,695,279.25. This trade represents a 19.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 Price Performance

Shares of DRS stock opened at $36.02 on Thursday. 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 stock’s fifty day simple moving average is $34.29 and its 200 day simple moving average is $31.17. Leonardo DRS, Inc. has a one year low of $19.00 and a one year high of $37.99. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 48.68, a P/E/G ratio of 1.55 and a beta of 1.01.

Analyst Upgrades and Downgrades

DRS has been the subject of several research reports. Truist Financial increased their target price on shares of Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird boosted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Institutional Investors Weigh In On Leonardo DRS

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 51,014 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock worth $35,371,000 after purchasing an additional 176,326 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 8.8% during 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 purchasing an additional 82,049 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Leonardo DRS by 71.7% in the third 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 in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Leonardo DRS by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 736,896 shares of the company’s stock worth $23,809,000 after buying an additional 179,224 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

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.