Leonardo DRS, Inc. (NASDAQ:DRS) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC lifted its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,281,546 shares of the company’s stock after acquiring an additional 102,198 shares during the quarter. Driehaus Capital Management LLC owned 0.87% of Leonardo DRS worth $58,202,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DRS. Nisa Investment Advisors LLC lifted its holdings in Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after acquiring an additional 1,074 shares during the period. EntryPoint Capital LLC boosted its holdings in 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 buying an additional 1,033 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Leonardo DRS during the fourth quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Leonardo DRS in the first quarter valued at $50,000. Finally, Comerica Bank increased its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Up 0.4 %

Shares of DRS stock opened at $27.87 on Friday. Leonardo DRS, Inc. has a fifty-two week low of $15.81 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The stock’s fifty day moving average is $27.70 and its two-hundred day moving average is $24.90. The firm has a market capitalization of $7.35 billion, a P/E ratio of 39.81, a PEG ratio of 1.94 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 for the quarter, topping the consensus estimate of $0.14 by $0.04. The firm had revenue of $753.00 million for the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Research analysts expect that Leonardo DRS, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Tuesday. Truist Financial upped their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BTIG Research lifted 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. Finally, Robert W. Baird upped their price objective on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Leonardo DRS currently has an average rating of “Moderate Buy” and a consensus price target 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.