Dynamic Technology Lab Private Ltd Invests $389,000 in Leonardo DRS, Inc. (NASDAQ:DRS)

Dynamic Technology Lab Private Ltd acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,784 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Leonardo DRS by 1,325.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares in the last quarter. Covestor Ltd grew its position in shares of Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after buying an additional 1,259 shares in the last quarter. Comerica Bank grew its position in shares of Leonardo DRS by 23.7% during the first 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. KBC Group NV increased its stake in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after acquiring an additional 432 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

DRS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three 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 has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Leonardo DRS Stock Up 0.3 %

DRS opened at $34.77 on Friday. The stock has a market capitalization of $9.19 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a one year low of $18.12 and a one year high of $37.99. The business’s 50-day simple moving average is $31.39 and its 200-day simple moving average is $28.13.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The firm’s 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 earnings per share. Analysts anticipate that Leonardo DRS, Inc. will post 0.92 EPS for the current 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.