CIBC Asset Management Inc Makes New $216,000 Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

CIBC Asset Management Inc purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 7,655 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently modified their holdings 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 last quarter. EntryPoint Capital LLC lifted its position in 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 buying an additional 1,033 shares during the last quarter. Covestor Ltd boosted its stake in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after buying an additional 1,259 shares during the period. Comerica Bank increased 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 valued at $61,000 after acquiring an additional 527 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after acquiring an additional 771 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DRS shares. 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. JPMorgan Chase & Co. raised their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BTIG Research boosted their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial raised their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America downgraded shares of 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 note on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.17.

Leonardo DRS Trading Up 1.5 %

DRS opened at $36.25 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a one year low of $17.97 and a one year high of $37.99. The company has a market cap of $9.58 billion, a P/E ratio of 48.99, a PEG ratio of 2.17 and a beta of 0.95. The business’s 50-day simple moving average is $30.70 and its 200-day simple moving average is $27.66.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Leonardo DRS, Inc. will post 0.9 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.