Leonardo DRS, Inc. (NASDAQ:DRS) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 37.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,708 shares of the company’s stock after selling 42,544 shares during the period. Sei Investments Co.’s holdings in Leonardo DRS were worth $1,804,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company’s stock worth $29,000 after purchasing an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Leonardo DRS in the fourth quarter worth about $35,000. EntryPoint Capital LLC boosted its holdings in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock worth $37,000 after buying an additional 1,033 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Leonardo DRS in the first quarter worth about $50,000. Finally, Comerica Bank boosted its holdings in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company’s stock worth $61,000 after buying an additional 527 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

DRS stock opened at $30.35 on Friday. 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 stock has a market cap of $7.99 billion, a P/E ratio of 43.36, a P/E/G ratio of 1.81 and a beta of 0.96. The firm has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $25.17. Leonardo DRS, Inc. has a 52 week low of $16.20 and a 52 week high of $30.48.

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

Analyst Ratings Changes

Several research analysts have commented on DRS shares. Robert W. Baird raised their target price on shares of Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial raised their target price on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and raised their target price for the stock from $26.00 to $30.00 in a report on Tuesday, September 24th. Finally, BTIG Research raised 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.17.

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.