Harel Insurance Investments & Financial Services Ltd. Acquires 6,853 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 52.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,962 shares of the company’s stock after acquiring an additional 6,853 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Leonardo DRS were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in DRS. Covestor Ltd grew its position in shares of 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 purchasing an additional 1,259 shares in the last quarter. KBC Group NV boosted its holdings in Leonardo DRS by 42.5% during 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 stake in shares of Leonardo DRS during the third quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Leonardo DRS in the third quarter worth about $113,000. Finally, New York State Teachers Retirement System boosted its holdings in shares of Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after purchasing an additional 432 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Down 1.6 %

Leonardo DRS stock opened at $36.81 on Friday. Leonardo DRS, Inc. has a 52 week low of $18.73 and a 52 week 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. The company’s 50-day moving average price is $34.23 and its two-hundred day moving average price is $30.65. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 1.63 and a beta of 1.00.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The firm had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $775.44 million. During the same period in the prior year, the business posted $0.20 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. On average, analysts expect that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.07, for a total transaction of $1,533,150.00. Following the sale, the chief executive officer now owns 234,937 shares of the company’s stock, valued at $8,004,303.59. The trade was a 16.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Baylouny sold 3,529 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total value of $112,575.10. Following the completion of the transaction, the chief operating officer now directly owns 78,334 shares of the company’s stock, valued at approximately $2,498,854.60. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,083 shares of company stock valued at $3,349,255. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Leonardo DRS Company Profile

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.