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

Victory Capital Management Inc. increased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 5,608.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 960,731 shares of the company’s stock after acquiring an additional 943,900 shares during the quarter. Victory Capital Management Inc. owned about 0.37% of Leonardo DRS worth $19,253,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DRS. Motley Fool Asset Management LLC grew its position in shares of Leonardo DRS by 8.7% during the fourth quarter. Motley Fool Asset Management LLC now owns 138,080 shares of the company’s stock valued at $2,767,000 after purchasing an additional 11,088 shares in the last quarter. New York State Common Retirement Fund increased its stake in Leonardo DRS by 38.8% in the 4th quarter. New York State Common Retirement Fund now owns 28,297 shares of the company’s stock worth $567,000 after acquiring an additional 7,904 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Leonardo DRS by 25.3% during 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 in the last quarter. Moody Aldrich Partners LLC boosted its position in shares of Leonardo DRS by 60.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 462,517 shares of the company’s stock valued at $9,269,000 after acquiring an additional 174,036 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC bought a new stake in Leonardo DRS in the fourth quarter worth $357,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Leonardo DRS Stock Performance

DRS stock opened at $22.47 on Friday. Leonardo DRS, Inc. has a 1-year low of $14.12 and a 1-year high of $24.00. The business has a 50-day moving average price of $21.74 and a 200 day moving average price of $20.28. The company has a market capitalization of $5.91 billion, a P/E ratio of 32.10, a PEG ratio of 3.10 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.96 and a quick ratio of 1.59.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data 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. The company had revenue of $688.00 million for the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. Leonardo DRS’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. As a group, equities research analysts forecast that Leonardo DRS, Inc. will post 0.8 EPS for the current fiscal year.

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.