Victory Capital Management Inc. Grows Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Victory Capital Management Inc. grew its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 1,133.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,438 shares of the company's stock after purchasing an additional 106,999 shares during the period. Victory Capital Management Inc.'s holdings in Leonardo DRS were worth $3,286,000 at the end of the most recent reporting period.

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

Leonardo DRS Price Performance

Shares of Leonardo DRS stock traded up $0.55 on Friday, hitting $36.25. 475,667 shares of the company traded hands, compared to its average volume of 673,308. 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 company 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 firm's 50-day simple moving average is $30.70 and its 200 day simple moving average is $27.74.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $812.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Analysts expect that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Leonardo DRS Profile

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.