Loomis Sayles & Co. L P Has $1.01 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Loomis Sayles & Co. L P trimmed its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 95.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,889 shares of the company’s stock after selling 703,230 shares during the period. Loomis Sayles & Co. L P’s holdings in Leonardo DRS were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Leonardo DRS in the third quarter valued at about $389,000. Algert Global LLC grew its stake in Leonardo DRS by 369.2% in the third quarter. Algert Global LLC now owns 37,200 shares of the company’s stock valued at $1,050,000 after acquiring an additional 29,272 shares during the period. Cerity Partners LLC grew its stake in Leonardo DRS by 1.1% in the third quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock valued at $961,000 after acquiring an additional 354 shares during the period. Citigroup Inc. grew its stake in Leonardo DRS by 46.2% in the third quarter. Citigroup Inc. now owns 196,223 shares of the company’s stock valued at $5,537,000 after acquiring an additional 62,042 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Leonardo DRS by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,012,370 shares of the company’s stock valued at $28,569,000 after acquiring an additional 82,049 shares during the period. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DRS shares. BTIG Research boosted their target price on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America lowered Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price target for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Robert W. Baird boosted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their price target on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.17.

Leonardo DRS Stock Performance

DRS opened at $34.66 on Thursday. Leonardo DRS, Inc. has a 52-week low of $17.97 and a 52-week high of $37.99. The firm has a market capitalization of $9.16 billion, a PE ratio of 46.84, a PEG ratio of 2.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.11. The business’s 50-day simple moving average is $31.14 and its 200 day simple moving average is $27.96.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Leonardo DRS’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 0.9 earnings per share for the current fiscal year.

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.