14,232 Shares in Leonardo DRS, Inc. (NASDAQ:DRS) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,232 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Leonardo DRS by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 7,554,321 shares of the company’s stock worth $166,875,000 after purchasing an additional 164,971 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Leonardo DRS by 97.2% during the first quarter. Janus Henderson Group PLC now owns 41,196 shares of the company’s stock worth $909,000 after buying an additional 20,302 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Leonardo DRS in the first quarter valued at $1,276,000. California State Teachers Retirement System grew its holdings in shares of Leonardo DRS by 33.9% during the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after buying an additional 19,673 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Leonardo DRS during the first quarter worth about $1,265,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DRS. Robert W. Baird raised their price target on shares of Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Bank of America cut Leonardo DRS from a “buy” rating to a “neutral” rating and raised their price objective for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Leonardo DRS Stock Performance

DRS stock opened at $34.77 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.19 billion, a PE ratio of 46.99, a P/E/G ratio of 2.10 and a beta of 0.95. The business has a 50 day moving average of $31.39 and a 200-day moving average of $28.09. Leonardo DRS, Inc. has a 12-month low of $18.12 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $812.00 million during the quarter, compared to the consensus estimate of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 0.92 earnings per share for the current 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.