The Manufacturers Life Insurance Company Decreases Position in Leonardo DRS, Inc. (NASDAQ:DRS)

The Manufacturers Life Insurance Company decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,213 shares of the company’s stock after selling 413 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Leonardo DRS were worth $1,361,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DRS. Comerica Bank lifted its stake in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake 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 buying an additional 1,074 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Leonardo DRS by 368.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,524 shares of the company’s stock valued at $268,000 after buying an additional 8,276 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Leonardo DRS by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 315,335 shares of the company’s stock valued at $8,044,000 after buying an additional 27,245 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in Leonardo DRS in the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $34.26 on Wednesday. The stock’s 50-day moving average is $32.28 and its 200-day moving average is $28.65. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 12 month low of $18.26 and a 12 month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) 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 business had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Leonardo DRS, Inc. will post 0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DRS. Robert W. Baird boosted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Insiders Place Their Bets

In other Leonardo DRS news, EVP Sally Wallace sold 4,339 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total transaction of $151,040.59. Following the sale, the executive vice president now owns 30,102 shares of the company’s stock, valued at $1,047,850.62. The trade was a 12.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pamela Morrow sold 11,100 shares of Leonardo DRS stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $386,391.00. Following the transaction, the senior vice president now owns 12,565 shares in the company, valued at approximately $437,387.65. This trade represents a 46.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,319 shares of company stock valued at $2,952,572 in the last quarter. Insiders own 0.12% of the company’s stock.

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.