Van ECK Associates Corp Raises Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Van ECK Associates Corp grew its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 32.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 736,896 shares of the company’s stock after buying an additional 179,224 shares during the period. Van ECK Associates Corp owned approximately 0.28% of Leonardo DRS worth $23,809,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DRS. Geode Capital Management LLC lifted its position in Leonardo DRS by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after purchasing an additional 51,014 shares during the period. Franklin Resources Inc. lifted its position in Leonardo DRS by 16.6% during the third quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after purchasing an additional 176,326 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 period. Jacobs Levy Equity Management Inc. lifted its position in Leonardo DRS by 71.7% during 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 during the period. Finally, Janus Henderson Group PLC lifted its position in Leonardo DRS by 4.9% during the third quarter. Janus Henderson Group PLC now owns 291,871 shares of the company’s stock valued at $8,236,000 after purchasing an additional 13,613 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DRS. Robert W. Baird increased their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Leonardo DRS from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their price target 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Transactions at Leonardo DRS

In other news, CEO William Lynn III sold 45,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the completion of the sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at $8,004,303.59. This represents a 16.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Salzman sold 3,477 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $34.59, for a total transaction of $120,269.43. Following the completion of the sale, the director now directly owns 13,262 shares of the company’s stock, valued at approximately $458,732.58. This trade represents a 20.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,089 shares of company stock valued at $5,178,619 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Down 9.6 %

DRS opened at $29.07 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Leonardo DRS, Inc. has a 1-year low of $19.88 and a 1-year high of $37.99. The company has a market capitalization of $7.69 billion, a PE ratio of 39.28, a PEG ratio of 1.51 and a beta of 1.01. The firm’s 50 day simple moving average is $34.20 and its two-hundred day simple moving average is $31.42.

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.