Jennison Associates LLC Acquires 7,728 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Jennison Associates LLC lifted its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 31.0% during the 4th quarter, Holdings Channel reports. The firm owned 32,647 shares of the company’s stock after purchasing an additional 7,728 shares during the quarter. Jennison Associates LLC’s holdings in Leonardo DRS were worth $1,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Leonardo DRS by 226.8% during the 3rd 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 raised its stake in Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares during the period. Point72 Hong Kong Ltd acquired a new position in Leonardo DRS during the 3rd quarter worth approximately $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leonardo DRS during the 3rd quarter worth approximately $113,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Leonardo DRS during the 4th quarter worth approximately $213,000. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $34.25 on Friday. The company has a market cap of $9.06 billion, a PE ratio of 46.28, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. Leonardo DRS, Inc. has a 52 week low of $19.06 and a 52 week high of $37.99. The business has a 50 day moving average price of $34.32 and a 200-day moving average price of $31.20. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Leonardo DRS

In related news, COO John Baylouny sold 3,529 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $31.90, for a total transaction of $112,575.10. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lynn III sold 45,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 234,937 shares of the company’s stock, valued at $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 sold a total of 143,083 shares of company stock valued at $4,935,505 over the last ninety days. 0.12% of the stock is currently owned by insiders.

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.