Natixis Advisors LLC Sells 25,087 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Natixis Advisors LLC reduced its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 38.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,826 shares of the company's stock after selling 25,087 shares during the period. Natixis Advisors LLC's holdings in Leonardo DRS were worth $1,124,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in DRS. Nisa Investment Advisors LLC increased its position in shares of Leonardo DRS by 1,325.9% in the second 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 in the last quarter. EntryPoint Capital LLC increased its position in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company's stock worth $37,000 after acquiring an additional 1,033 shares in the last quarter. Covestor Ltd increased its position in shares of Leonardo DRS by 226.8% in the third quarter. Covestor Ltd now owns 1,814 shares of the company's stock worth $51,000 after acquiring an additional 1,259 shares in the last quarter. Comerica Bank boosted its holdings in shares of Leonardo DRS by 23.7% during 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, KBC Group NV boosted its holdings in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company's stock worth $73,000 after purchasing an additional 771 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Leonardo DRS Trading Down 1.6 %

Shares of DRS stock opened at $34.87 on Wednesday. Leonardo DRS, Inc. has a 1 year low of $17.97 and a 1 year high of $37.99. The firm's fifty day simple moving average is $31.00 and its 200 day simple moving average is $27.92. The firm has a market capitalization of $9.22 billion, a P/E ratio of 47.12, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced 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. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Leonardo DRS's revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Leonardo DRS, Inc. will post 0.9 EPS for the current year.

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.