US Bancorp DE Acquires 15,020 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

US Bancorp DE lifted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 65.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,838 shares of the company's stock after acquiring an additional 15,020 shares during the quarter. US Bancorp DE's holdings in Leonardo DRS were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its position in Leonardo DRS by 50.5% during the first quarter. Swiss National Bank now owns 155,300 shares of the company's stock valued at $3,431,000 after acquiring an additional 52,100 shares during the last quarter. California State Teachers Retirement System grew its stake 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 purchasing an additional 19,673 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 purchasing an additional 290,188 shares during the period. Tidal Investments LLC bought a new stake in Leonardo DRS in the first quarter worth approximately $1,265,000. Finally, Russell Investments Group Ltd. lifted its stake in Leonardo DRS by 32.1% in the first quarter. Russell Investments Group Ltd. now owns 188,737 shares of the company's stock valued at $4,169,000 after buying an additional 45,821 shares during the period. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Stock Up 3.3 %

NASDAQ DRS traded up $1.16 during trading hours on Friday, hitting $36.59. The company's stock had a trading volume of 894,168 shares, compared to its average volume of 629,537. The company has a market capitalization of $9.67 billion, a PE ratio of 49.45, 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, Inc. has a 52 week low of $17.97 and a 52 week high of $36.92. The company's 50-day simple moving average is $29.11 and its two-hundred day simple moving average is $26.69.

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, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million for 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%. Leonardo DRS's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Research analysts anticipate that Leonardo DRS, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DRS has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. BTIG Research raised their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped 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. Finally, Bank of America lowered Leonardo DRS from a "buy" rating to a "neutral" rating and increased their price target for the stock from $26.00 to $30.00 in a 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.