AQR Capital Management LLC Purchases 26,185 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

AQR Capital Management LLC increased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 89.7% during the second quarter, HoldingsChannel reports. The fund owned 55,361 shares of the company’s stock after buying an additional 26,185 shares during the quarter. AQR Capital Management LLC’s holdings in Leonardo DRS were worth $1,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 1,074 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Leonardo DRS by 165.8% in the first 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. PNC Financial Services Group Inc. bought a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Leonardo DRS in the first quarter valued at approximately $50,000. Finally, Comerica Bank lifted its stake 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 purchasing an additional 527 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on DRS shares. Robert W. Baird increased their target price on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BTIG Research increased their price objective on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and increased their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Finally, Truist Financial raised their price objective on 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 stock. According to MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $28.87 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $27.96 and a 200-day moving average of $25.34. The firm has a market cap of $7.60 billion, a P/E ratio of 41.24, a P/E/G ratio of 1.93 and a beta of 0.96. Leonardo DRS, Inc. has a 1-year low of $17.80 and a 1-year high of $30.98.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 EPS 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 business had revenue of $753.00 million during the quarter, compared to analyst estimates of $680.38 million. During the same period last year, the business posted $0.15 earnings per share. Leonardo DRS’s quarterly revenue was up 19.9% compared to the same quarter last year. Sell-side analysts expect that Leonardo DRS, Inc. will post 0.86 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.