Van ECK Associates Corp Boosts Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Van ECK Associates Corp lifted its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 28.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 557,672 shares of the company’s stock after buying an additional 122,836 shares during the period. Van ECK Associates Corp owned approximately 0.21% of Leonardo DRS worth $15,698,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of Leonardo DRS by 50.5% during the 1st quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after buying an additional 52,100 shares during the period. California State Teachers Retirement System lifted its holdings in Leonardo DRS by 33.9% in the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after acquiring an additional 19,673 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock valued at $48,165,000 after acquiring an additional 290,188 shares during the period. Tidal Investments LLC purchased a new position in Leonardo DRS in the first quarter worth about $1,265,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Leonardo DRS by 32.1% during the 1st quarter. Russell Investments Group Ltd. now owns 188,737 shares of the company’s stock valued at $4,169,000 after purchasing an additional 45,821 shares during the period. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $33.04 on Wednesday. The business’s 50-day simple moving average is $28.66 and its two-hundred day simple moving average is $26.45. Leonardo DRS, Inc. has a 52 week low of $17.97 and a 52 week high of $33.29. The stock has a market cap of $8.74 billion, a PE ratio of 44.65, a P/E/G ratio of 1.93 and a beta of 0.95. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) 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 company had revenue of $812.00 million for the quarter, compared to the consensus estimate of $775.44 million. During the same quarter last year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts forecast that Leonardo DRS, Inc. will post 0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BTIG Research raised their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Truist Financial raised their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday. Finally, Robert W. Baird lifted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three 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, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Leonardo DRS 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.