Raymond James & Associates Cuts Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Raymond James & Associates lessened its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,534 shares of the company’s stock after selling 3,313 shares during the period. Raymond James & Associates’ holdings in Leonardo DRS were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Moody Aldrich Partners LLC lifted its stake in Leonardo DRS by 36.4% in the third quarter. Moody Aldrich Partners LLC now owns 288,481 shares of the company’s stock valued at $4,818,000 after purchasing an additional 76,988 shares during the last quarter. Vanguard Group Inc. lifted its stake in Leonardo DRS by 1.6% in the third quarter. Vanguard Group Inc. now owns 4,898,903 shares of the company’s stock valued at $81,812,000 after purchasing an additional 76,109 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Leonardo DRS by 38.8% in the third quarter. First Eagle Investment Management LLC now owns 269,150 shares of the company’s stock valued at $4,495,000 after purchasing an additional 75,179 shares during the last quarter. MRP Capital Investments LLC lifted its stake in Leonardo DRS by 225.8% in the third quarter. MRP Capital Investments LLC now owns 98,275 shares of the company’s stock valued at $1,641,000 after purchasing an additional 68,110 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Leonardo DRS by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 559,415 shares of the company’s stock valued at $9,342,000 after purchasing an additional 58,353 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Upgrades and Downgrades

DRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Bank of America boosted their target price on shares of Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Truist Financial boosted their target price on shares of Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 28th.

Leonardo DRS Trading Up 1.3 %

Leonardo DRS stock opened at $21.67 on Monday. The stock has a market cap of $5.69 billion, a P/E ratio of 33.86, a PEG ratio of 3.16 and a beta of 0.80. Leonardo DRS, Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $24.00. The firm’s fifty day moving average price is $21.75 and its 200-day moving average price is $20.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.78.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $926.00 million for the quarter, compared to analysts’ expectations of $880.03 million. Leonardo DRS had a net margin of 5.94% and a return on equity of 8.72%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts forecast that Leonardo DRS, Inc. will post 0.8 earnings per share for the current fiscal year.

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.