Quantbot Technologies LP Purchases New Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Quantbot Technologies LP purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,312 shares of the company’s stock, valued at approximately $1,138,000.

A number of other hedge funds have also recently modified their holdings of DRS. Nisa Investment Advisors LLC lifted its stake in Leonardo DRS by 1,325.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after acquiring an additional 1,074 shares during the period. Covestor Ltd raised its holdings 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 purchasing an additional 1,259 shares in the last quarter. Comerica Bank lifted its position in shares of Leonardo DRS by 23.7% in the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after purchasing an additional 527 shares during the period. KBC Group NV increased its position in shares of Leonardo DRS by 42.5% during the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after buying an additional 771 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of Leonardo DRS by 6.9% during the third quarter. New York State Teachers Retirement System now owns 6,722 shares of the company’s stock valued at $190,000 after buying an additional 432 shares during the period. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $34.77 on Friday. Leonardo DRS, Inc. has a twelve month low of $18.12 and a twelve month high of $37.99. 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 company has a market capitalization of $9.19 billion, a P/E ratio of 46.99, a PEG ratio of 2.10 and a beta of 0.95. The stock’s 50 day moving average is $31.39 and its 200 day moving average is $28.13.

Leonardo DRS (NASDAQ:DRS) last released its 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 for the quarter, compared to analysts’ expectations of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, equities research analysts predict that Leonardo DRS, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DRS shares. Robert W. Baird lifted their price objective on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.