Royce & Associates LP Sells 283,947 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Royce & Associates LP lessened its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 16.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,432,163 shares of the company’s stock after selling 283,947 shares during the period. Royce & Associates LP’s holdings in Leonardo DRS were worth $40,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc bought a new stake in Leonardo DRS in the 3rd quarter worth approximately $216,000. KBC Group NV increased its stake in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after acquiring an additional 771 shares during the last quarter. Victory Capital Management Inc. increased its stake in Leonardo DRS by 1,133.6% in the 3rd quarter. Victory Capital Management Inc. now owns 116,438 shares of the company’s stock worth $3,286,000 after acquiring an additional 106,999 shares during the last quarter. GSA Capital Partners LLP increased its stake in Leonardo DRS by 23.3% in the 3rd quarter. GSA Capital Partners LLP now owns 23,403 shares of the company’s stock worth $660,000 after acquiring an additional 4,418 shares during the last quarter. Finally, Covestor Ltd increased its stake in Leonardo DRS by 226.8% in the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after acquiring an additional 1,259 shares during the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $34.33 on Friday. The stock has a 50 day moving average price of $29.62 and a 200-day moving average price of $27.04. Leonardo DRS, Inc. has a one year low of $17.97 and a one year high of $37.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $775.44 million. During the same quarter in the previous year, the business earned $0.20 EPS. Leonardo DRS’s revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. BTIG Research lifted their price objective on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Robert W. Baird lifted their target price on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial lifted 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.