Oliver Luxxe Assets LLC Buys 4,368 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Oliver Luxxe Assets LLC grew its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,612 shares of the company’s stock after buying an additional 4,368 shares during the period. Oliver Luxxe Assets LLC’s holdings in Leonardo DRS were worth $2,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Leonardo DRS by 133.1% in the third quarter. JPMorgan Chase & Co. now owns 171,864 shares of the company’s stock worth $4,850,000 after buying an additional 98,141 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Leonardo DRS by 16.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,239,569 shares of the company’s stock valued at $35,371,000 after acquiring an additional 176,326 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Leonardo DRS by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,915,376 shares of the company’s stock valued at $54,061,000 after acquiring an additional 51,014 shares during the last quarter. Barclays PLC grew its holdings in shares of Leonardo DRS by 148.5% during the third quarter. Barclays PLC now owns 178,331 shares of the company’s stock worth $5,032,000 after purchasing an additional 106,565 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of Leonardo DRS in the third quarter worth approximately $1,381,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Trading Up 0.5 %

NASDAQ DRS traded up $0.17 during trading on Monday, hitting $33.05. 294,381 shares of the company’s stock traded hands, compared to its average volume of 359,060. The firm has a market cap of $8.74 billion, a P/E ratio of 44.66, a PEG ratio of 1.76 and a beta of 1.00. The stock has a fifty day moving average of $33.81 and a two-hundred day moving average of $29.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 12-month low of $18.60 and a 12-month high of $37.99.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly 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. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. Leonardo DRS’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 0.92 EPS for the current year.

Insider Activity at Leonardo DRS

In other news, SVP Pamela Morrow sold 11,100 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total transaction of $386,391.00. Following the transaction, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at approximately $437,387.65. The trade was a 46.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.07, for a total value of $1,533,150.00. Following the transaction, the chief executive officer now owns 234,937 shares of the company’s stock, valued at approximately $8,004,303.59. This represents a 16.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,554 shares of company stock worth $3,236,679 in the last three months. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DRS. Bank of America cut shares of Leonardo DRS from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $26.00 to $30.00 in a research note on Tuesday, September 24th. Robert W. Baird increased their target price on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.17.

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.