Principal Financial Group Inc. Increases Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Principal Financial Group Inc. grew its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 25.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 135,479 shares of the company’s stock after purchasing an additional 27,471 shares during the period. Principal Financial Group Inc.’s holdings in Leonardo DRS were worth $3,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock valued at $29,000 after purchasing an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Leonardo DRS during the fourth quarter valued at about $35,000. EntryPoint Capital LLC grew its position in Leonardo DRS by 165.8% during the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after buying an additional 1,033 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Leonardo DRS during the first quarter valued at about $50,000. Finally, Comerica Bank grew its position in Leonardo DRS by 23.7% during the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after buying an additional 527 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial increased their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research increased their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley began coverage on shares of Leonardo DRS in a research report on Friday, May 24th. They set an “equal weight” rating and a $26.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Leonardo DRS Trading Up 0.3 %

Shares of DRS opened at $26.83 on Thursday. The firm’s 50 day simple moving average is $27.46 and its 200 day simple moving average is $24.49. The company has a market capitalization of $7.06 billion, a P/E ratio of 38.33, a P/E/G ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. Leonardo DRS, Inc. has a 1-year low of $15.81 and a 1-year high of $29.85.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $753.00 million for the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. Leonardo DRS’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Sell-side analysts forecast that Leonardo DRS, Inc. will post 0.84 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.