First Eagle Investment Management LLC Has $6.18 Million Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

First Eagle Investment Management LLC lifted its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,185 shares of the company's stock after acquiring an additional 39,035 shares during the period. First Eagle Investment Management LLC owned approximately 0.12% of Leonardo DRS worth $6,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new stake in Leonardo DRS during the fourth quarter worth $223,000. Principal Financial Group Inc. acquired a new stake in Leonardo DRS during the fourth quarter worth $815,000. Seven Grand Managers LLC acquired a new stake in Leonardo DRS during the fourth quarter worth $1,403,000. Charles Schwab Investment Management Inc. boosted its stake in Leonardo DRS by 37.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,420 shares of the company's stock worth $15,399,000 after buying an additional 209,005 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Leonardo DRS by 29.3% during the fourth quarter. Amalgamated Bank now owns 9,905 shares of the company's stock worth $198,000 after buying an additional 2,247 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded up $0.36 during midday trading on Friday, reaching $23.35. 361,134 shares of the company traded hands, compared to its average volume of 476,273. The stock's 50-day simple moving average is $21.72 and its 200-day simple moving average is $20.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. Leonardo DRS, Inc. has a 12 month low of $14.12 and a 12 month high of $24.00. The firm has a market cap of $6.14 billion, a PE ratio of 33.36, a PEG ratio of 2.07 and a beta of 0.79.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, March 15th. Bank of America lifted their price objective on Leonardo DRS from $22.00 to $26.00 and gave the company a "buy" rating in a report on Friday, March 15th. Finally, Truist Financial lifted their price objective on Leonardo DRS from $24.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, February 28th.

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.