Vanguard Group Inc. Acquires 2,490,447 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Vanguard Group Inc. increased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 50.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,389,350 shares of the company’s stock after purchasing an additional 2,490,447 shares during the period. Vanguard Group Inc. owned approximately 2.81% of Leonardo DRS worth $148,083,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Leonardo DRS by 5,608.1% during the fourth quarter. Victory Capital Management Inc. now owns 960,731 shares of the company’s stock valued at $19,253,000 after purchasing an additional 943,900 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Leonardo DRS by 37.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company’s stock worth $15,399,000 after buying an additional 209,005 shares during the period. Ghisallo Capital Management LLC bought a new position in Leonardo DRS in the fourth quarter worth approximately $13,795,000. Philadelphia Trust Co. grew its stake in Leonardo DRS by 0.3% in the fourth quarter. Philadelphia Trust Co. now owns 516,530 shares of the company’s stock valued at $10,351,000 after acquiring an additional 1,500 shares during the period. Finally, Moody Aldrich Partners LLC grew its stake in Leonardo DRS by 60.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 462,517 shares of the company’s stock valued at $9,269,000 after acquiring an additional 174,036 shares during the period. 18.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DRS has been the topic of a number of research reports. Morgan Stanley assumed coverage on Leonardo DRS in a research report on Friday, May 24th. They set an “equal weight” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Bank of America boosted their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. BTIG Research began coverage on shares of Leonardo DRS in a research report on Wednesday, June 26th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Truist Financial lifted their price target on Leonardo DRS from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.60.

Leonardo DRS Stock Up 1.0 %

DRS opened at $25.74 on Friday. Leonardo DRS, Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $26.63. The firm has a market capitalization of $6.77 billion, a P/E ratio of 36.77, a PEG ratio of 1.93 and a beta of 0.89. The company’s 50-day moving average is $23.88 and its 200 day moving average is $21.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $645.56 million. During the same quarter last year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts expect that Leonardo DRS, Inc. will post 0.81 earnings per share for the current fiscal year.

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.