Squarepoint Ops LLC Sells 23,429 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Squarepoint Ops LLC decreased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 16.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,162 shares of the company’s stock after selling 23,429 shares during the period. Squarepoint Ops LLC’s holdings in Leonardo DRS were worth $3,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DRS. US Bancorp DE grew its holdings in Leonardo DRS by 29.8% during the 4th quarter. US Bancorp DE now owns 54,496 shares of the company’s stock valued at $1,092,000 after buying an additional 12,519 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Leonardo DRS by 33.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 28,428 shares of the company’s stock valued at $550,000 after acquiring an additional 7,161 shares during the period. TD Asset Management Inc purchased a new position in Leonardo DRS during the fourth quarter valued at approximately $1,816,000. Jones Financial Companies Lllp bought a new stake in Leonardo DRS during the 4th quarter worth approximately $66,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Leonardo DRS in the 4th quarter worth approximately $13,795,000. 18.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DRS. BTIG Research upped their price target on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their price target on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Truist Financial boosted their price objective on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America downgraded shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and three have assigned 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 price target of $29.17.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $29.70 on Wednesday. The business’s 50-day moving average price is $27.72 and its 200-day moving average price is $25.02. The firm has a market capitalization of $7.82 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Leonardo DRS, Inc. has a 12 month low of $15.81 and a 12 month high of $29.87. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The firm had revenue of $753.00 million during the quarter, compared to analyst estimates of $680.38 million. During the same period in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Sell-side analysts forecast that Leonardo DRS, Inc. will post 0.86 EPS for the current fiscal year.

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.