Algert Global LLC Purchases 29,272 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Algert Global LLC increased its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 369.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,200 shares of the company’s stock after purchasing an additional 29,272 shares during the quarter. Algert Global LLC’s holdings in Leonardo DRS were worth $1,050,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in Leonardo DRS by 33.9% in the 1st 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 raised its holdings in Leonardo DRS by 15.4% in the 1st 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 bought a new position in Leonardo DRS in the 1st quarter valued at about $1,265,000. Janus Henderson Group PLC raised its holdings in Leonardo DRS by 97.2% in the 1st quarter. Janus Henderson Group PLC now owns 41,196 shares of the company’s stock valued at $909,000 after acquiring an additional 20,302 shares during the period. Finally, Driehaus Capital Management LLC raised its holdings in Leonardo DRS by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock valued at $58,202,000 after acquiring an additional 102,198 shares during the period. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Stock Performance

NASDAQ DRS opened at $34.66 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 2.19 and a beta of 0.95. The firm’s 50 day simple moving average is $31.27 and its 200 day simple moving average is $28.01. Leonardo DRS, Inc. has a 1 year low of $17.97 and a 1 year high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts expect that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DRS. JPMorgan Chase & Co. raised their target price on shares of 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 raised their target price on shares of Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. BTIG Research raised their target price 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. Finally, Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

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.