Oliver Luxxe Assets LLC Boosts Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Oliver Luxxe Assets LLC grew its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,741 shares of the company’s stock after buying an additional 1,206 shares during the period. Oliver Luxxe Assets LLC’s holdings in Leonardo DRS were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cannon Global Investment Management LLC purchased a new stake in shares of Leonardo DRS in the first quarter worth $725,000. PNC Financial Services Group Inc. purchased a new stake in shares of Leonardo DRS in the fourth quarter worth $35,000. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 50.8% in the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock worth $148,083,000 after acquiring an additional 2,490,447 shares during the last quarter. West Tower Group LLC purchased a new stake in shares of Leonardo DRS in the fourth quarter worth $741,000. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Leonardo DRS in the fourth quarter worth $13,795,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Stock Down 0.9 %

DRS stock opened at $25.28 on Tuesday. Leonardo DRS, Inc. has a fifty-two week low of $15.75 and a fifty-two week high of $26.63. The business’s 50-day moving average is $23.54 and its two-hundred day moving average is $21.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 1.93 and a beta of 0.89.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $645.56 million. Leonardo DRS had a return on equity of 9.35% and a net margin of 6.28%. Leonardo DRS’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, analysts forecast that Leonardo DRS, Inc. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

DRS has been the topic of a number of research analyst reports. Truist Financial upped their price target on Leonardo DRS from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. BTIG Research initiated coverage on Leonardo DRS in a report on Wednesday, June 26th. They set a “buy” rating and a $30.00 price target on the stock. Morgan Stanley initiated coverage on Leonardo DRS in a report on Friday, May 24th. They set an “equal weight” rating and a $26.00 price target on the stock. Bank of America upped their price target on Leonardo DRS from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. lowered their price target on Leonardo DRS from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.60.

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.