Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 16.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,432,163 shares of the company's stock after selling 283,947 shares during the period. Royce & Associates LP owned approximately 0.54% of Leonardo DRS worth $40,416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DRS. Dimensional Fund Advisors LP purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at about $16,916,000. Van ECK Associates Corp purchased a new stake in Leonardo DRS during the second quarter valued at approximately $11,093,000. Price T Rowe Associates Inc. MD raised its position in 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 worth $48,165,000 after acquiring an additional 290,188 shares during the period. Vanguard Group Inc. grew its position in shares of Leonardo DRS by 2.2% during 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. Finally, Victory Capital Management Inc. increased its stake in shares of Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company's stock worth $3,286,000 after purchasing an additional 106,999 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BTIG Research raised their target price 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. Robert W. Baird lifted their target price 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. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Truist Financial raised their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, Bank of America lowered Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.17.

Leonardo DRS Trading Down 1.8 %

Shares of NASDAQ DRS traded down $0.61 during midday trading on Friday, hitting $33.72. The company's stock had a trading volume of 468,020 shares, compared to its average volume of 626,782. Leonardo DRS, Inc. has a 12-month low of $17.97 and a 12-month high of $37.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.92 billion, a P/E ratio of 46.23, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. The business's 50 day moving average is $29.75 and its two-hundred day moving average is $27.09.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. 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 business posted $0.20 EPS. Leonardo DRS's quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts expect 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.