Quest Partners LLC Makes New $449,000 Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Quest Partners LLC acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 15,902 shares of the company’s stock, valued at approximately $449,000.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after buying an additional 1,033 shares in the last quarter. Covestor Ltd boosted its position in shares of Leonardo DRS by 226.8% during the third 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. Comerica Bank grew its stake 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 acquiring an additional 527 shares in the last quarter. Finally, KBC Group NV increased its holdings in Leonardo DRS by 42.5% in the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after acquiring an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Up 1.5 %

Shares of DRS opened at $36.25 on Friday. 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 business has a fifty day moving average of $30.70 and a 200 day moving average of $27.70. The company has a market cap of $9.58 billion, a PE ratio of 48.99, a P/E/G ratio of 2.21 and a beta of 0.95. Leonardo DRS, Inc. has a 52-week low of $17.97 and a 52-week high of $37.99.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a net margin of 6.23% and a return on equity of 9.71%. During the same period in the previous year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. 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. Robert W. Baird increased their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, BTIG Research increased their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.