Leonardo DRS, Inc. (NASDAQ:DRS) Director Eric Salzman Sells 3,477 Shares

Leonardo DRS, Inc. (NASDAQ:DRS) Director Eric Salzman sold 3,477 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $34.59, for a total value of $120,269.43. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at $458,732.58. The trade was a 20.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Leonardo DRS Stock Performance

DRS traded down $0.82 during trading on Wednesday, reaching $33.62. 432,522 shares of the company’s stock were exchanged, compared to its average volume of 470,776. The company has a market capitalization of $8.89 billion, a P/E ratio of 45.43, a PEG ratio of 1.51 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 business has a 50 day moving average price of $34.30 and a 200 day moving average price of $31.40. Leonardo DRS, Inc. has a fifty-two week low of $19.57 and a fifty-two week high of $37.99.

Analyst Upgrades and Downgrades

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

Institutional Trading of Leonardo DRS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRS. Norges Bank acquired a new stake in shares of Leonardo DRS during the 4th quarter worth about $24,920,000. Teacher Retirement System of Texas lifted its stake in shares of Leonardo DRS by 87.7% during the fourth quarter. Teacher Retirement System of Texas now owns 1,067,630 shares of the company’s stock valued at $34,495,000 after acquiring an additional 498,979 shares during the period. JPMorgan Chase & Co. grew its position in shares of Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock worth $20,081,000 after buying an additional 449,642 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of 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 acquiring an additional 384,522 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Leonardo DRS by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,934,919 shares of the company’s stock worth $256,377,000 after buying an additional 263,002 shares during the last quarter. Institutional investors 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.