Verdence Capital Advisors LLC Buys 589 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Verdence Capital Advisors LLC grew its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,942 shares of the company’s stock after purchasing an additional 589 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Leonardo DRS were worth $252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Leonardo DRS by 1,325.9% during 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 in the last quarter. EntryPoint Capital LLC boosted its holdings in shares of Leonardo DRS by 165.8% during the 1st 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. Comerica Bank grew its position in shares of Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after buying an additional 527 shares during the period. New York State Teachers Retirement System increased its stake in shares of Leonardo DRS by 6.9% in the 3rd 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. Finally, Algert Global LLC bought a new position in Leonardo DRS during the second quarter worth $202,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $36.13 on Wednesday. Leonardo DRS, Inc. has a 52 week low of $17.97 and a 52 week high of $37.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $29.28 and a 200-day moving average price of $26.87. The company has a market cap of $9.55 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business had revenue of $812.00 million for the quarter, compared to analysts’ expectations of $775.44 million. During the same period last year, the business earned $0.20 EPS. The business’s revenue was up 15.5% on a year-over-year basis. Equities analysts anticipate that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on DRS. JPMorgan Chase & Co. lifted their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Robert W. Baird upped their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BTIG Research raised their price objective on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and upped their target price for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, Truist Financial lifted their price target 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.