Stephens Investment Management Group LLC Has $26.93 Million Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Stephens Investment Management Group LLC reduced its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 954,216 shares of the company's stock after selling 168,727 shares during the period. Stephens Investment Management Group LLC owned 0.36% of Leonardo DRS worth $26,928,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DRS. Blair William & Co. IL boosted its stake in shares of Leonardo DRS by 1.1% in the second quarter. Blair William & Co. IL now owns 36,850 shares of the company's stock valued at $940,000 after buying an additional 400 shares during the period. Arizona State Retirement System lifted its position in shares of Leonardo DRS by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,056 shares of the company's stock valued at $563,000 after acquiring an additional 424 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Leonardo DRS by 6.9% during the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company's stock worth $190,000 after purchasing an additional 432 shares in the last quarter. Comerica Bank increased its position in shares of Leonardo DRS by 23.7% in 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 period. Finally, ProShare Advisors LLC raised its stake in Leonardo DRS by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,346 shares of the company's stock valued at $273,000 after purchasing an additional 972 shares in the last quarter. 18.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRS. Truist Financial increased their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. BTIG Research lifted their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Bank of America cut Leonardo DRS from a "buy" rating to a "neutral" rating and upped their target price for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Robert W. Baird boosted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Leonardo DRS presently has a consensus rating of "Moderate Buy" and an average target price of $30.83.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded up $0.65 during midday trading on Friday, reaching $30.72. 674,166 shares of the company were exchanged, compared to its average volume of 621,940. Leonardo DRS, Inc. has a one year low of $17.97 and a one year high of $33.29. The stock has a market cap of $8.10 billion, a P/E ratio of 40.64, a PEG ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average price is $28.44 and its 200-day moving average price is $26.16.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 9.82% 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 quarter in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts anticipate that Leonardo DRS, Inc. will post 0.86 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.