Leonardo DRS, Inc. (NASDAQ:DRS) Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 25.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,606 shares of the company’s stock after acquiring an additional 3,152 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Leonardo DRS were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Leonardo DRS by 1,280.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,585 shares of the company’s stock valued at $110,000 after acquiring an additional 6,108 shares during the last quarter. Covestor Ltd bought a new stake in Leonardo DRS in the third quarter worth $173,000. Rafferty Asset Management LLC acquired a new position in Leonardo DRS during the third quarter worth $280,000. Victory Capital Management Inc. acquired a new position in Leonardo DRS during the third quarter worth $281,000. Finally, Orion Portfolio Solutions LLC raised its holdings in Leonardo DRS by 14.3% during the third quarter. Orion Portfolio Solutions LLC now owns 21,267 shares of the company’s stock valued at $355,000 after buying an additional 2,653 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Leonardo DRS Price Performance

NASDAQ DRS opened at $21.22 on Monday. The stock has a 50-day simple moving average of $21.77 and a 200 day simple moving average of $20.24. Leonardo DRS, Inc. has a twelve month low of $14.12 and a twelve month high of $24.00. The stock has a market capitalization of $5.58 billion, a PE ratio of 30.31, a P/E/G ratio of 3.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.47 and a current ratio of 1.96.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $688.00 million during the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Research analysts anticipate that Leonardo DRS, Inc. will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DRS shares. Truist Financial increased their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Bank of America increased their price target on Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th.

Leonardo DRS Company 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.