Rhumbline Advisers Has $2.54 Million Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Rhumbline Advisers raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,709 shares of the company’s stock after purchasing an additional 10,492 shares during the period. Rhumbline Advisers’ holdings in Leonardo DRS were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DRS. Nisa Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 1,074 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after purchasing an additional 1,033 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Leonardo DRS during the fourth quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Leonardo DRS during the first quarter worth $50,000. Finally, Comerica Bank boosted 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 purchasing an additional 527 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DRS shares. BTIG Research lifted their price target 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. Truist Financial boosted their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley began coverage on shares of Leonardo DRS in a research report on Friday, May 24th. They issued an “equal weight” rating and a $26.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Leonardo DRS Stock Up 0.0 %

Shares of DRS stock opened at $27.61 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. Leonardo DRS, Inc. has a 1 year low of $15.81 and a 1 year high of $29.85. The firm’s fifty day moving average price is $27.64 and its two-hundred day moving average price is $24.67. The firm has a market capitalization of $7.28 billion, a P/E ratio of 39.44, a PEG ratio of 2.00 and a beta of 0.96.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.15 EPS. Leonardo DRS’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities analysts predict that Leonardo DRS, Inc. will post 0.84 EPS for the current fiscal 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.