Arizona State Retirement System Has $563,000 Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Arizona State Retirement System boosted its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,056 shares of the company’s stock after purchasing an additional 424 shares during the quarter. Arizona State Retirement System’s holdings in Leonardo DRS were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Leonardo DRS by 1,325.9% in the second 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. bought a new position in Leonardo DRS in the 4th quarter worth about $35,000. EntryPoint Capital LLC increased its position in shares of Leonardo DRS by 165.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company’s stock valued at $37,000 after purchasing an additional 1,033 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Leonardo DRS during the 1st quarter valued at about $50,000. Finally, Comerica Bank boosted its holdings in Leonardo DRS by 23.7% during the 1st quarter. Comerica Bank now owns 2,750 shares of the company’s stock valued at $61,000 after acquiring an additional 527 shares during the period. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Down 0.9 %

Shares of NASDAQ DRS opened at $27.82 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.34 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock’s fifty day simple moving average is $27.59 and its two-hundred day simple moving average is $24.62. Leonardo DRS, Inc. has a 12-month low of $15.81 and a 12-month high of $29.85.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $753.00 million for the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, analysts expect that Leonardo DRS, Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley initiated coverage on Leonardo DRS in a research note on Friday, May 24th. They issued an “equal weight” rating and a $26.00 target price for the company. Robert W. Baird lifted their target price on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BTIG Research boosted their price objective on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial lifted their target price on Leonardo DRS from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.50.

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.