Leonardo DRS, Inc. (NASDAQ:DRS) Shares Acquired by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lifted its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 375,242 shares of the company’s stock after acquiring an additional 1,246 shares during the period. Leonardo DRS comprises about 1.8% of Essex Investment Management Co. LLC’s holdings, making the stock its 2nd biggest position. Essex Investment Management Co. LLC’s holdings in Leonardo DRS were worth $10,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DRS. Nisa Investment Advisors LLC lifted its holdings in shares of Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after acquiring an additional 1,074 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of Leonardo DRS in the 4th quarter worth about $35,000. EntryPoint Capital LLC increased its position in shares of Leonardo DRS by 165.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after purchasing an additional 1,033 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Leonardo DRS during the 1st quarter valued at about $50,000. Finally, Comerica Bank boosted its position in Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Price Performance

Shares of DRS stock opened at $29.18 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. Leonardo DRS, Inc. has a 12 month low of $17.80 and a 12 month high of $30.98. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 1.99 and a beta of 0.96. The stock has a 50-day moving average price of $28.04 and a 200 day moving average price of $25.44.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. During the same period in the prior year, the business posted $0.15 earnings per share. Leonardo DRS’s revenue was up 19.9% compared to the same quarter last year. Research analysts expect that Leonardo DRS, Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

DRS has been the subject of a number of research analyst reports. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Truist Financial increased their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their price target on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.