Algert Global LLC Buys Shares of 7,928 Leonardo DRS, Inc. (NASDAQ:DRS)

Algert Global LLC bought a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,928 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Leonardo DRS by 1,325.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after buying an additional 1,074 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in Leonardo DRS in the 4th quarter valued at $35,000. EntryPoint Capital LLC lifted its position in Leonardo DRS by 165.8% in the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after acquiring an additional 1,033 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Leonardo DRS in the 1st quarter valued at $50,000. Finally, Comerica Bank lifted its position in Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after buying an additional 527 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Stock Down 5.9 %

DRS opened at $28.87 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The company’s 50-day moving average is $27.96 and its 200 day moving average is $25.34. Leonardo DRS, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $30.98. The firm has a market capitalization of $7.60 billion, a P/E ratio of 41.24, a PEG ratio of 1.93 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The company had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts expect that Leonardo DRS, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DRS. BTIG Research upped their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird increased their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Truist Financial increased their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.