SG Americas Securities LLC Takes Position in Leonardo DRS, Inc. (NASDAQ:DRS)

SG Americas Securities LLC acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 53,817 shares of the company’s stock, valued at approximately $1,519,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRS. Cetera Investment Advisers bought a new position in shares of Leonardo DRS during the 2nd quarter worth approximately $1,072,000. Algert Global LLC acquired a new stake in shares of Leonardo DRS in the second quarter valued at about $202,000. Driehaus Capital Management LLC raised its holdings in Leonardo DRS by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 2,281,546 shares of the company’s stock worth $58,202,000 after acquiring an additional 102,198 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Leonardo DRS by 6.5% during the second quarter. The Manufacturers Life Insurance Company now owns 48,626 shares of the company’s stock valued at $1,240,000 after purchasing an additional 2,958 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Leonardo DRS by 89.7% in the second quarter. AQR Capital Management LLC now owns 55,361 shares of the company’s stock valued at $1,412,000 after purchasing an additional 26,185 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Up 1.0 %

Shares of DRS opened at $30.65 on Wednesday. The firm’s 50-day simple moving average is $27.86 and its 200 day simple moving average is $25.24. 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 firm has a market cap of $8.07 billion, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. Leonardo DRS, Inc. has a 52 week low of $16.79 and a 52 week high of $30.98.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Tuesday, July 30th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The company 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 firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, analysts forecast that Leonardo DRS, Inc. will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DRS shares. Bank of America downgraded Leonardo DRS from a “buy” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. BTIG Research raised their target price on shares of Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their price target on Leonardo DRS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Leonardo DRS presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

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.