Oliver Luxxe Assets LLC Acquires 38,425 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Oliver Luxxe Assets LLC raised its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 82.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 85,244 shares of the company's stock after buying an additional 38,425 shares during the period. Oliver Luxxe Assets LLC's holdings in Leonardo DRS were worth $2,406,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Leonardo DRS by 1,325.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,155 shares of the company's stock valued at $29,000 after acquiring an additional 1,074 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Leonardo DRS in the fourth quarter valued at $35,000. EntryPoint Capital LLC increased its position in shares of Leonardo DRS by 165.8% in the first quarter. EntryPoint Capital LLC now owns 1,656 shares of the company's stock valued at $37,000 after acquiring an additional 1,033 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Leonardo DRS during the 1st quarter worth approximately $50,000. Finally, Comerica Bank grew its stake in shares of Leonardo DRS by 23.7% in the first quarter. Comerica Bank now owns 2,750 shares of the company's stock valued at $61,000 after buying an additional 527 shares in the last quarter. Institutional investors own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Leonardo DRS from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price target on Leonardo DRS from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. BTIG Research lifted their price objective on shares of Leonardo DRS from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Bank of America downgraded shares of Leonardo DRS from a "buy" rating to a "neutral" rating and upped their price objective for the company from $26.00 to $30.00 in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Leonardo DRS Stock Performance

DRS traded down $0.64 during trading on Monday, hitting $28.54. The stock had a trading volume of 589,671 shares, compared to its average volume of 619,239. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.01 and a quick ratio of 1.60. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 40.76, a P/E/G ratio of 1.99 and a beta of 0.96. The company has a 50 day moving average price of $28.09 and a 200-day moving average price of $25.52. Leonardo DRS, Inc. has a one year low of $17.97 and a one year high of $30.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.04. The company had revenue of $753.00 million during the quarter, compared to the consensus estimate of $680.38 million. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The firm's quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, research analysts predict that Leonardo DRS, Inc. will post 0.86 EPS 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.