Swiss National Bank Trims Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Swiss National Bank reduced its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,200 shares of the company’s stock after selling 11,500 shares during the quarter. Swiss National Bank’s holdings in Leonardo DRS were worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tower View Wealth Management LLC increased its position in shares of Leonardo DRS by 1.2% during the 4th quarter. Tower View Wealth Management LLC now owns 100,545 shares of the company’s stock valued at $2,015,000 after purchasing an additional 1,201 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Leonardo DRS by 14.3% during the third quarter. Orion Portfolio Solutions LLC now owns 21,267 shares of the company’s stock worth $355,000 after acquiring an additional 2,653 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Leonardo DRS by 25.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,606 shares of the company’s stock worth $313,000 after acquiring an additional 3,152 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of Leonardo DRS by 3.5% in the 3rd quarter. Natixis Advisors L.P. now owns 98,948 shares of the company’s stock valued at $1,653,000 after purchasing an additional 3,353 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Leonardo DRS by 1,280.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,585 shares of the company’s stock valued at $110,000 after purchasing an additional 6,108 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $23.92 on Friday. The company has a market cap of $6.29 billion, a PE ratio of 34.17, a P/E/G ratio of 1.80 and a beta of 0.79. The business has a 50 day moving average of $21.87 and a 200 day moving average of $20.62. Leonardo DRS, Inc. has a 52 week low of $14.12 and a 52 week high of $24.84. The company has a quick ratio of 1.59, a current ratio of 1.96 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $645.56 million. During the same period last year, the company posted $0.07 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts forecast that Leonardo DRS, Inc. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DRS. Bank of America boosted their price target on shares of Leonardo DRS from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Morgan Stanley began coverage on Leonardo DRS in a research note on Friday. They issued an “equal weight” rating and a $26.00 price target on the stock. Truist Financial increased their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th.

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.