Moody Aldrich Partners LLC Trims Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Moody Aldrich Partners LLC reduced its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,805 shares of the company’s stock after selling 5,260 shares during the period. Leonardo DRS accounts for 1.4% of Moody Aldrich Partners LLC’s portfolio, making the stock its 14th biggest holding. Moody Aldrich Partners LLC owned 0.10% of Leonardo DRS worth $7,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DRS. Oliver Luxxe Assets LLC lifted its stake in shares of Leonardo DRS by 82.1% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 85,244 shares of the company’s stock valued at $2,406,000 after buying an additional 38,425 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in Leonardo DRS by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 375,242 shares of the company’s stock valued at $10,589,000 after acquiring an additional 1,246 shares during the period. SG Americas Securities LLC purchased a new position in shares of Leonardo DRS in the third quarter valued at about $1,519,000. Cetera Investment Advisers bought a new position in shares of Leonardo DRS in the second quarter worth about $1,072,000. Finally, Algert Global LLC purchased a new stake in shares of Leonardo DRS during the second quarter worth about $202,000. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS traded up $0.35 on Thursday, reaching $28.50. The company’s stock had a trading volume of 48,378 shares, compared to its average volume of 617,020. The company has a 50-day simple moving average of $28.27 and a 200 day simple moving average of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The company has a market cap of $7.50 billion, a P/E ratio of 40.21, a PEG ratio of 1.86 and a beta of 0.96. Leonardo DRS, Inc. has a 52-week low of $17.97 and a 52-week high of $30.98.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) 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 return on equity of 9.48% and a net margin of 6.12%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, equities research analysts anticipate that Leonardo DRS, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DRS shares. Robert W. Baird upped their price target on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America lowered shares of Leonardo DRS from a “buy” rating to a “neutral” rating and upped their target price for the stock from $26.00 to $30.00 in a research report on Tuesday, September 24th. BTIG Research boosted their price target 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.17.

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.