Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 53.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,100 shares of the company's stock after selling 16,013 shares during the period. Versor Investments LP's holdings in Leonardo DRS were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DRS. Swiss National Bank increased its stake in Leonardo DRS by 50.5% in the first quarter. Swiss National Bank now owns 155,300 shares of the company's stock valued at $3,431,000 after purchasing an additional 52,100 shares in the last quarter. California State Teachers Retirement System raised its position 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 acquiring an additional 19,673 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Leonardo DRS by 15.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company's stock worth $48,165,000 after acquiring an additional 290,188 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Leonardo DRS in the first quarter valued at about $1,265,000. Finally, Russell Investments Group Ltd. increased its position in Leonardo DRS by 32.1% during the first quarter. Russell Investments Group Ltd. now owns 188,737 shares of the company's stock worth $4,169,000 after acquiring an additional 45,821 shares during the period. 18.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DRS shares. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Robert W. Baird lifted their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Truist Financial lifted their price target on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. BTIG Research lifted their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Bank of America downgraded shares of Leonardo DRS from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and an average price target of $32.17.

Leonardo DRS Price Performance

NASDAQ:DRS traded down $0.61 during trading hours on Friday, reaching $33.72. The stock had a trading volume of 468,004 shares, compared to its average volume of 626,782. The stock has a market capitalization of $8.92 billion, a PE ratio of 46.23, a PEG ratio of 2.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company has a 50 day moving average price of $29.75 and a two-hundred day moving average price of $27.09. Leonardo DRS, Inc. has a 52 week low of $17.97 and a 52 week high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $812.00 million during the quarter, compared to analysts' expectations of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. As a group, sell-side analysts anticipate that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

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.