Van ECK Associates Corp Has $15.70 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Van ECK Associates Corp lifted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 557,672 shares of the company's stock after acquiring an additional 122,836 shares during the quarter. Van ECK Associates Corp owned about 0.21% of Leonardo DRS worth $15,698,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP bought a new position in Leonardo DRS in the 2nd quarter worth $16,916,000. Motley Fool Asset Management LLC lifted its position in shares of Leonardo DRS by 289.3% during the 1st quarter. Motley Fool Asset Management LLC now owns 537,536 shares of the company's stock worth $11,874,000 after purchasing an additional 399,456 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Leonardo DRS by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company's stock valued at $48,165,000 after purchasing an additional 290,188 shares during the period. Vanguard Group Inc. grew its holdings 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 buying an additional 164,971 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in Leonardo DRS by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company's stock worth $58,202,000 after buying an additional 102,198 shares during the period. Institutional investors and hedge funds own 18.76% of the company's stock.

Wall Street Analysts Forecast Growth

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

Leonardo DRS Price Performance

NASDAQ DRS traded up $2.43 on Wednesday, reaching $35.47. The company's stock had a trading volume of 1,396,108 shares, compared to its average volume of 627,310. Leonardo DRS, Inc. has a 52 week low of $17.97 and a 52 week high of $35.55. 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 $9.38 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 1.98 and a beta of 0.95. The business has a 50-day moving average price of $28.81 and a 200 day moving average price of $26.52.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating 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 analyst estimates of $775.44 million. During the same period in the prior year, the company posted $0.20 EPS. The company's revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect that Leonardo DRS, Inc. will post 0.89 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.