Algert Global LLC Raises Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Algert Global LLC grew its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 369.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,200 shares of the company's stock after buying an additional 29,272 shares during the period. Algert Global LLC's holdings in Leonardo DRS were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DRS. Dimensional Fund Advisors LP acquired a new stake in Leonardo DRS during the 2nd quarter worth about $16,916,000. Van ECK Associates Corp acquired a new position in Leonardo DRS in the second quarter valued at approximately $11,093,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Leonardo DRS by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company's stock worth $48,165,000 after buying an additional 290,188 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Leonardo DRS by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company's stock worth $166,875,000 after buying an additional 164,971 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company's stock valued at $3,286,000 after acquiring an additional 106,999 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Stock Up 0.3 %

Shares of DRS stock traded up $0.11 during trading hours on Friday, reaching $34.77. The company had a trading volume of 317,115 shares, compared to its average volume of 621,098. The business has a fifty day simple moving average of $31.39 and a 200-day simple moving average of $28.09. Leonardo DRS, Inc. has a 12 month low of $18.12 and a 12 month high of $37.99. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95. 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 (NASDAQ:DRS - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business's revenue was up 15.5% compared to the same quarter last year. On average, research analysts expect that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DRS. JPMorgan Chase & Co. lifted their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Bank of America downgraded Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price target for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird raised 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. Finally, BTIG Research upped their target price on Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $32.17.

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.