Jacobs Levy Equity Management Inc. Has $26 Million Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Jacobs Levy Equity Management Inc. increased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 71.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 921,156 shares of the company’s stock after purchasing an additional 384,522 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.35% of Leonardo DRS worth $25,995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares during the period. Covestor Ltd increased its position in shares of Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after buying an additional 1,259 shares in the last quarter. Comerica Bank raised its stake in Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after buying an additional 527 shares during the period. KBC Group NV lifted its holdings in Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after acquiring an additional 771 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Leonardo DRS in the third quarter valued at about $109,000. Institutional investors own 18.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michael Dippold sold 25,880 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the transaction, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at approximately $1,602,714.24. This trade represents a 35.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lynn III sold 45,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 234,937 shares in the company, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,319 shares of company stock valued at $2,952,572 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DRS has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Trading Up 1.3 %

NASDAQ DRS opened at $34.90 on Wednesday. Leonardo DRS, Inc. has a 52 week low of $18.24 and a 52 week high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock’s 50 day moving average price is $31.67 and its two-hundred day moving average price is $28.32. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.78 and a beta of 0.97.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, analysts anticipate that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

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.