Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Versor Investments LP

Versor Investments LP decreased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 53.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,100 shares of the company’s stock after selling 16,013 shares during the quarter. Versor Investments LP’s holdings in Leonardo DRS were worth $398,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DRS. Dimensional Fund Advisors LP acquired a new position in Leonardo DRS in the second quarter worth approximately $16,916,000. Van ECK Associates Corp acquired a new position in Leonardo DRS in the second quarter worth approximately $11,093,000. Price T Rowe Associates Inc. MD grew 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 buying an additional 290,188 shares during the last quarter. Vanguard Group Inc. grew its position in Leonardo DRS by 2.2% in the first quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company’s stock worth $166,875,000 after buying an additional 164,971 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its position in Leonardo DRS by 4.7% in the second 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 last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Trading Down 5.0 %

Shares of NASDAQ:DRS opened at $34.33 on Friday. The firm has a fifty day moving average of $29.62 and a two-hundred day moving average of $27.04. The firm has a market capitalization of $9.08 billion, a P/E ratio of 46.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. Leonardo DRS, Inc. has a 12-month low of $17.97 and a 12-month high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The company had revenue of $812.00 million during the quarter, compared to analyst estimates of $775.44 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Leonardo DRS Company 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.