Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Eagle Global Advisors LLC

Eagle Global Advisors LLC lowered its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,000 shares of the company’s stock after selling 15,000 shares during the quarter. Eagle Global Advisors LLC’s holdings in Leonardo DRS were worth $1,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Leonardo DRS by 1,280.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,585 shares of the company’s stock valued at $110,000 after buying an additional 6,108 shares in the last quarter. Covestor Ltd acquired a new stake in Leonardo DRS during the third quarter valued at approximately $173,000. Amalgamated Bank raised its stake in Leonardo DRS by 29.3% during the fourth quarter. Amalgamated Bank now owns 9,905 shares of the company’s stock valued at $198,000 after buying an additional 2,247 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Leonardo DRS during the fourth quarter valued at approximately $223,000. Finally, Rafferty Asset Management LLC acquired a new stake in Leonardo DRS during the third quarter valued at approximately $280,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DRS. Truist Financial upped their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. cut their price objective on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Bank of America upped their target price on Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Morgan Stanley assumed coverage on Leonardo DRS in a report on Friday. They set an “equal weight” rating and a $26.00 target price for the company.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS traded up $0.21 during trading on Friday, hitting $23.92. 304,709 shares of the company traded hands, compared to its average volume of 494,983. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 1.79 and a beta of 0.79. The business’s fifty day moving average is $21.87 and its 200-day moving average is $20.62. Leonardo DRS, Inc. has a one year low of $14.12 and a one year high of $24.84. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The business had revenue of $688.00 million during the quarter, compared to analyst estimates of $645.56 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Leonardo DRS, Inc. will post 0.81 earnings per share for the current fiscal year.

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.