Victory Capital Management Inc. Acquires 943,900 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Victory Capital Management Inc. increased its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 5,608.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 960,731 shares of the company's stock after purchasing an additional 943,900 shares during the period. Victory Capital Management Inc. owned approximately 0.37% of Leonardo DRS worth $19,253,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Moody Aldrich Partners LLC grew its holdings in Leonardo DRS by 60.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 462,517 shares of the company's stock worth $9,269,000 after buying an additional 174,036 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Leonardo DRS by 1.6% during the third quarter. Vanguard Group Inc. now owns 4,898,903 shares of the company's stock worth $81,812,000 after acquiring an additional 76,109 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Leonardo DRS by 38.8% in the third quarter. First Eagle Investment Management LLC now owns 269,150 shares of the company's stock worth $4,495,000 after acquiring an additional 75,179 shares during the period. MRP Capital Investments LLC raised its position in shares of Leonardo DRS by 225.8% during the 3rd quarter. MRP Capital Investments LLC now owns 98,275 shares of the company's stock valued at $1,641,000 after buying an additional 68,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Leonardo DRS by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 559,415 shares of the company's stock worth $9,342,000 after acquiring an additional 58,353 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America increased their target price on Leonardo DRS from $22.00 to $26.00 and gave the company a "buy" rating in a report on Friday, March 15th. Truist Financial increased their price objective on Leonardo DRS from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. dropped their target price on Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Friday, March 15th.

Leonardo DRS Stock Up 1.1 %

DRS stock traded up $0.25 during midday trading on Friday, hitting $22.72. The company's stock had a trading volume of 411,513 shares, compared to its average volume of 576,869. The company has a market cap of $5.98 billion, a PE ratio of 32.46, a P/E/G ratio of 3.14 and a beta of 0.79. The firm's 50-day moving average is $21.74 and its 200-day moving average is $20.30. Leonardo DRS, Inc. has a 12 month low of $14.12 and a 12 month high of $24.00. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.15.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 business had revenue of $688.00 million for the quarter, compared to analysts' expectations of $645.56 million. During the same quarter in the prior year, the business earned $0.07 EPS. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Leonardo DRS, Inc. will post 0.8 earnings per share for the current fiscal year.

Leonardo DRS Company 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.