Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 89.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,361 shares of the company’s stock after buying an additional 26,185 shares during the quarter. AQR Capital Management LLC’s holdings in Leonardo DRS were worth $1,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DRS. Vanguard Group Inc. raised its stake in shares of Leonardo DRS by 50.8% in the 4th quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after acquiring an additional 2,490,447 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Leonardo DRS in the fourth quarter worth $35,000. Cannon Global Investment Management LLC acquired a new position in Leonardo DRS in the first quarter worth $725,000. Oliver Luxxe Assets LLC lifted its stake in shares of Leonardo DRS by 2.7% during the first quarter. Oliver Luxxe Assets LLC now owns 45,741 shares of the company’s stock valued at $1,010,000 after acquiring an additional 1,206 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Leonardo DRS by 165.6% during the first quarter. Principal Financial Group Inc. now owns 108,008 shares of the company’s stock valued at $2,386,000 after acquiring an additional 67,335 shares during the period. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

DRS opened at $28.87 on Friday. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 1.93 and a beta of 0.96. The business has a 50 day moving average of $27.96 and a 200-day moving average of $25.34. The company has a quick ratio of 1.60, a current ratio of 2.01 and a debt-to-equity ratio of 0.15. Leonardo DRS, Inc. has a 12-month low of $17.80 and a 12-month high of $30.98.

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

Analyst Ratings Changes

Several research firms have weighed in on DRS. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and increased their target price for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. BTIG Research increased their price objective on Leonardo DRS from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial increased 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, Robert W. Baird increased their price target on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.