Great Lakes Advisors LLC Sells 117,131 Shares of Leonardo DRS, Inc. $DRS

Great Lakes Advisors LLC cut its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 50.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,044 shares of the company’s stock after selling 117,131 shares during the period. Great Lakes Advisors LLC’s holdings in Leonardo DRS were worth $5,268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DRS. True Wealth Design LLC raised its holdings in Leonardo DRS by 122.6% in the 3rd quarter. True Wealth Design LLC now owns 541 shares of the company’s stock worth $25,000 after purchasing an additional 298 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Leonardo DRS in the second quarter worth about $26,000. Steward Partners Investment Advisory LLC lifted its position in shares of Leonardo DRS by 91.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 575 shares of the company’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Leonardo DRS by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 751 shares of the company’s stock valued at $34,000 after buying an additional 315 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Leonardo DRS during the 2nd quarter valued at approximately $69,000. Institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Leonardo DRS in a research note on Monday, December 29th. Morgan Stanley set a $40.00 target price on shares of Leonardo DRS in a research note on Tuesday, December 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $50.00 price target on shares of Leonardo DRS in a research note on Thursday, October 30th. Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Truist Financial set a $54.00 price objective on Leonardo DRS in a research note on Friday, January 9th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and an average price target of $47.14.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $41.06 on Friday. The firm has a market cap of $10.92 billion, a PE ratio of 41.90, a PEG ratio of 2.06 and a beta of 0.44. The stock has a 50 day moving average of $36.66 and a 200 day moving average of $39.75. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.12. Leonardo DRS, Inc. has a 12 month low of $28.17 and a 12 month high of $49.31.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $924.79 million. Leonardo DRS had a return on equity of 11.37% and a net margin of 7.43%.The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling at Leonardo DRS

In other news, CFO Michael Dippold sold 10,588 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $37.00, for a total transaction of $391,756.00. Following the sale, the chief financial officer directly owned 42,952 shares in the company, valued at approximately $1,589,224. This represents a 19.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sally Wallace sold 1,300 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $35.17, for a total transaction of $45,721.00. Following the completion of the transaction, the executive vice president directly owned 58,353 shares of the company’s stock, valued at approximately $2,052,275.01. The trade was a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

About Leonardo DRS

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.