11,590 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,590 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake 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 acquiring an additional 1,074 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Leonardo DRS in the 4th quarter worth approximately $35,000. EntryPoint Capital LLC boosted its stake in shares of Leonardo DRS by 165.8% during the first 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Leonardo DRS during the first quarter valued at approximately $50,000. Finally, Comerica Bank raised its stake in 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 in the last quarter. Institutional investors own 18.76% of the company’s stock.

Leonardo DRS Trading Up 0.8 %

Leonardo DRS stock opened at $28.41 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 $7.48 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The stock has a 50-day moving average of $27.70 and a two-hundred day moving average of $24.75. Leonardo DRS, Inc. has a one year low of $15.81 and a one year high of $29.85.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $753.00 million for the quarter, compared to analyst estimates of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. Leonardo DRS’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. On average, research analysts anticipate that Leonardo DRS, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

DRS has been the topic of several recent research reports. Robert W. Baird increased 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 raised 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 boosted 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.