Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 35.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,021,332 shares of the company’s stock after selling 1,124,379 shares during the period. Wellington Management Group LLP owned about 0.77% of Leonardo DRS worth $40,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. West Tower Group LLC acquired a new stake in Leonardo DRS during the 4th quarter worth about $741,000. Ghisallo Capital Management LLC acquired a new stake in shares of Leonardo DRS during the fourth quarter valued at approximately $13,795,000. Jones Financial Companies Lllp purchased a new stake in shares of Leonardo DRS in the 4th quarter valued at approximately $66,000. Oliver Luxxe Assets LLC boosted its stake in Leonardo DRS by 44.9% in the 4th quarter. Oliver Luxxe Assets LLC now owns 44,535 shares of the company’s stock worth $892,000 after purchasing an additional 13,808 shares during the period. Finally, TD Asset Management Inc purchased a new position in Leonardo DRS during the 4th quarter worth approximately $1,816,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley began coverage on Leonardo DRS in a report on Friday, May 24th. They issued an “equal weight” rating and a $26.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Truist Financial upped their target price on Leonardo DRS from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, Bank of America raised their price target on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, March 15th.

Leonardo DRS Price Performance

DRS opened at $26.00 on Monday. The stock has a fifty day moving average price of $23.10 and a 200 day moving average price of $21.40. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15. Leonardo DRS, Inc. has a 1 year low of $15.74 and a 1 year high of $26.15. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 1.91 and a beta of 0.82.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $688.00 million during the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. Analysts forecast that Leonardo DRS, Inc. will post 0.81 EPS for the current fiscal year.

Leonardo DRS 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.