Citigroup Inc. Purchases 62,042 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Citigroup Inc. raised its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 46.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 196,223 shares of the company’s stock after buying an additional 62,042 shares during the quarter. Citigroup Inc.’s holdings in Leonardo DRS were worth $5,537,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after buying an additional 1,074 shares in the last quarter. Covestor Ltd grew its position in shares of Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after acquiring an additional 1,259 shares during the period. Comerica Bank lifted its position in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares during the last quarter. KBC Group NV lifted its stake in shares of Leonardo DRS by 42.5% during the 3rd 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 last quarter. Finally, New York State Teachers Retirement System lifted its holdings in Leonardo DRS by 6.9% during the 3rd quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock worth $190,000 after purchasing an additional 432 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Price Performance

DRS stock opened at $34.77 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The company has a market capitalization of $9.19 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95. The business has a 50-day simple moving average of $31.39 and a two-hundred day simple moving average of $28.16. Leonardo DRS, Inc. has a 52-week low of $18.12 and a 52-week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Research analysts expect that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DRS has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average target price of $32.17.

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.