Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,239,569 shares of the company’s stock after acquiring an additional 176,326 shares during the period. Franklin Resources Inc. owned approximately 0.47% of Leonardo DRS worth $35,371,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DRS. Nisa Investment Advisors LLC raised its position in Leonardo DRS by 1,325.9% during the second 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 in the last quarter. Covestor Ltd grew its position in Leonardo DRS by 226.8% during the third quarter. Covestor Ltd now owns 1,814 shares of the company’s stock valued at $51,000 after buying an additional 1,259 shares during the period. KBC Group NV increased its holdings in Leonardo DRS by 42.5% in the third quarter. KBC Group NV now owns 2,585 shares of the company’s stock valued at $73,000 after buying an additional 771 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Leonardo DRS in the third quarter worth about $109,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Leonardo DRS during the 3rd quarter worth about $113,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $31.96 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The business has a 50 day simple moving average of $32.84 and a two-hundred day simple moving average of $29.13. The stock has a market capitalization of $8.45 billion, a P/E ratio of 43.19, a PEG ratio of 1.76 and a beta of 0.97. Leonardo DRS, Inc. has a 12 month low of $18.60 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 for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Leonardo DRS had a return on equity of 9.71% and a net margin of 6.23%. The company had revenue of $812.00 million for the quarter, compared to analyst estimates of $775.44 million. During the same quarter last year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts predict that Leonardo DRS, Inc. will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO John Baylouny sold 8,235 shares of Leonardo DRS stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $34.50, for a total transaction of $284,107.50. Following the transaction, the chief operating officer now owns 81,863 shares in the company, valued at approximately $2,824,273.50. This trade represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Pamela Morrow sold 11,100 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $34.81, for a total value of $386,391.00. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 94,554 shares of company stock worth $3,236,679. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

DRS has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price 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 shares of Leonardo DRS from a “buy” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.17.

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.