KBC Group NV Increases Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

KBC Group NV boosted its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 42.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,585 shares of the company’s stock after purchasing an additional 771 shares during the period. KBC Group NV’s holdings in Leonardo DRS were worth $73,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DRS. Blair William & Co. IL raised its position in shares of Leonardo DRS by 1.1% during the 2nd quarter. Blair William & Co. IL now owns 36,850 shares of the company’s stock valued at $940,000 after buying an additional 400 shares during the period. Arizona State Retirement System increased its stake in Leonardo DRS by 2.0% during the second quarter. Arizona State Retirement System now owns 22,056 shares of the company’s stock worth $563,000 after acquiring an additional 424 shares during the last quarter. New York State Teachers Retirement System raised its position in Leonardo DRS by 6.9% in the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after purchasing an additional 432 shares during the period. Comerica Bank lifted its stake in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after purchasing an additional 527 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Leonardo DRS by 7.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,942 shares of the company’s stock worth $252,000 after purchasing an additional 589 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Trading Up 1.5 %

NASDAQ DRS opened at $36.25 on Friday. Leonardo DRS, Inc. has a 52 week low of $17.97 and a 52 week high of $37.99. The firm has a 50 day moving average of $30.70 and a two-hundred day moving average of $27.66. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $9.58 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. Leonardo DRS’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, research analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on DRS. Robert W. Baird boosted their price objective on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. BTIG Research upped their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price target for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, Truist Financial upped their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a research 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 company. According to MarketBeat, Leonardo DRS currently has an average rating of “Moderate Buy” and a consensus target price of $32.17.

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.