Leonardo DRS, Inc. $DRS Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 99.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,983 shares of the company’s stock after acquiring an additional 21,394 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Leonardo DRS were worth $1,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of Leonardo DRS by 122.6% in the 3rd quarter. True Wealth Design LLC now owns 541 shares of the company’s stock valued at $25,000 after purchasing an additional 298 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Leonardo DRS in the second quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC lifted its position in Leonardo DRS by 91.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 575 shares of the company’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. GAMMA Investing LLC grew its stake in Leonardo DRS by 72.2% during the third quarter. GAMMA Investing LLC now owns 751 shares of the company’s stock worth $34,000 after buying an additional 315 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Leonardo DRS during the second quarter worth approximately $69,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRS has been the topic of several recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $50.00 target price on shares of Leonardo DRS in a report on Thursday, October 30th. Truist Financial set a $54.00 price objective on Leonardo DRS in a research report on Friday, January 9th. Morgan Stanley set a $40.00 price objective on Leonardo DRS in a research note on Tuesday, December 16th. Zacks Research lowered Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.14.

Insider Transactions at Leonardo DRS

In other news, EVP Sally Wallace sold 1,300 shares of Leonardo DRS stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $35.17, for a total value of $45,721.00. Following the completion of the transaction, the executive vice president owned 58,353 shares in the company, valued at approximately $2,052,275.01. This trade represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Dippold sold 10,588 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $37.00, for a total value of $391,756.00. Following the sale, the chief financial officer directly owned 42,952 shares in the company, valued at approximately $1,589,224. This represents a 19.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.

Leonardo DRS Trading Up 0.7%

DRS opened at $42.47 on Thursday. Leonardo DRS, Inc. has a 12-month low of $28.17 and a 12-month high of $49.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 1.63. The stock has a market capitalization of $11.30 billion, a PE ratio of 43.34, a P/E/G ratio of 2.10 and a beta of 0.44. The firm’s fifty day moving average price is $36.34 and its 200 day moving average price is $39.79.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.37%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.