Quest Partners LLC Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Quest Partners LLC purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,902 shares of the company's stock, valued at approximately $449,000.

A number of other large investors also recently modified their holdings of the company. ProShare Advisors LLC increased its stake in shares of 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 buying an additional 972 shares during the period. Vanguard Group Inc. increased its position in Leonardo DRS by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company's stock valued at $166,875,000 after acquiring an additional 164,971 shares during the period. EntryPoint Capital LLC raised its stake in shares of Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company's stock valued at $37,000 after acquiring an additional 1,033 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 purchasing an additional 290,188 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in shares of Leonardo DRS by 1.8% in the first quarter. Kennedy Capital Management LLC now owns 768,163 shares of the company's stock worth $16,969,000 after purchasing an additional 13,830 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Trading Up 1.5 %

Shares of DRS stock traded up $0.55 during trading hours on Friday, hitting $36.25. 475,667 shares of the company were exchanged, compared to its average volume of 673,308. The company has a 50 day simple moving average of $30.70 and a two-hundred day simple moving average of $27.70. The firm has a market cap of $9.58 billion, a P/E ratio of 48.99, a P/E/G ratio of 2.21 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. Leonardo DRS, Inc. has a fifty-two week low of $17.97 and a fifty-two week high of $37.99.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 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 net margin of 6.23% and a return on equity of 9.71%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company posted $0.20 earnings per share. Equities analysts anticipate that Leonardo DRS, Inc. will post 0.9 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.