Geode Capital Management LLC Has $54.06 Million Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Geode Capital Management LLC raised its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,915,376 shares of the company’s stock after acquiring an additional 51,014 shares during the quarter. Geode Capital Management LLC’s holdings in Leonardo DRS were worth $54,061,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC increased 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 valued at $29,000 after purchasing an additional 1,074 shares during the period. Covestor Ltd grew 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 during the last quarter. KBC Group NV raised its position in shares of 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 during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS in the third quarter worth approximately $109,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Leonardo DRS in the third quarter valued at approximately $113,000. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Up 3.2 %

NASDAQ:DRS opened at $32.98 on Monday. Leonardo DRS, Inc. has a 12 month low of $18.60 and a 12 month 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 stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 1.76 and a beta of 0.97. The firm has a fifty day simple moving average of $32.98 and a two-hundred day simple moving average of $29.25.

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

Wall Street Analysts Forecast Growth

DRS has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target 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. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their target price for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, Robert W. Baird increased their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Insider Activity

In other news, CFO Michael Dippold sold 25,880 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the sale, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at $1,602,714.24. This represents a 35.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of Leonardo DRS 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 transaction, the chief executive officer now directly owns 234,937 shares in the company, valued at approximately $8,004,303.59. The trade was a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,554 shares of company stock worth $3,236,679 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.

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.