Jennison Associates LLC Makes New Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Jennison Associates LLC bought a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,919 shares of the company's stock, valued at approximately $703,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in Leonardo DRS by 33.9% during the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company's stock worth $1,716,000 after buying an additional 19,673 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company's stock valued at $48,165,000 after purchasing an additional 290,188 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Leonardo DRS during the first quarter valued at $1,265,000. Janus Henderson Group PLC raised its holdings in Leonardo DRS by 97.2% during the 1st quarter. Janus Henderson Group PLC now owns 41,196 shares of the company's stock worth $909,000 after purchasing an additional 20,302 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its position in Leonardo DRS by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company's stock valued at $58,202,000 after purchasing an additional 102,198 shares during the period. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Stock Up 1.5 %

Leonardo DRS stock traded up $0.55 during midday trading on Friday, reaching $36.25. The stock had a trading volume of 475,667 shares, compared to its average volume of 673,308. The stock has a market capitalization of $9.58 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. The firm's fifty day simple moving average is $30.70 and its 200-day simple moving average is $27.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a 1-year low of $17.97 and a 1-year high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.23% and a return on equity of 9.71%. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same period last year, the company earned $0.20 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. As a group, analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DRS has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price 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 lowered shares of Leonardo DRS from a "buy" rating to a "neutral" rating and boosted their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Truist Financial raised their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, BTIG Research boosted their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Leonardo DRS currently has a consensus rating of "Moderate Buy" and an average price target of $32.17.

Leonardo DRS 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.