Covestor Ltd Has $51,000 Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Covestor Ltd boosted its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 226.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,814 shares of the company’s stock after purchasing an additional 1,259 shares during the quarter. Covestor Ltd’s holdings in Leonardo DRS were worth $51,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DRS. Swiss National Bank raised its position in shares of Leonardo DRS by 50.5% in the 1st 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 period. Sei Investments Co. boosted its position in shares of Leonardo DRS by 2.3% during the first quarter. Sei Investments Co. now owns 113,252 shares of the company’s stock worth $2,502,000 after purchasing an additional 2,579 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Leonardo DRS by 32.1% in the 1st 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. ProShare Advisors LLC grew its holdings in shares of Leonardo DRS by 8.5% in the 1st 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. Finally, Lord Abbett & CO. LLC increased its position in shares of Leonardo DRS by 18.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 518,152 shares of the company’s stock valued at $11,446,000 after buying an additional 79,204 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America downgraded 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. Robert W. Baird raised their target price 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. BTIG Research lifted their price target 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 objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. 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 report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

Leonardo DRS Trading Down 5.0 %

Leonardo DRS stock opened at $34.33 on Friday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 48.82, a P/E/G ratio of 2.23 and a beta of 0.95. The firm has a 50-day moving average of $29.62 and a 200-day moving average of $27.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a one year low of $17.97 and a one year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm 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%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. On average, equities analysts expect that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal 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.