Franklin Resources Inc. Buys Shares of 630,700 Leonardo DRS, Inc. (NASDAQ:DRS)

Posted by on Jun 2nd, 2023

Franklin Resources Inc. bought a new stake in Leonardo DRS, Inc. (NASDAQ:DRS – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 630,700 shares of the company’s stock, valued at approximately $8,060,000. Franklin Resources Inc. owned approximately 1.27% of Leonardo DRS at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL acquired a new position in shares of Leonardo DRS during the fourth quarter worth about $485,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Leonardo DRS in the fourth quarter valued at approximately $545,000. Essex Investment Management Co. LLC purchased a new position in Leonardo DRS in the fourth quarter valued at approximately $5,118,000. Stephens Investment Management Group LLC purchased a new position in Leonardo DRS in the fourth quarter valued at approximately $18,983,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in Leonardo DRS in the fourth quarter valued at approximately $232,000. 61.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on DRS shares. Canaccord Genuity Group started coverage on shares of Leonardo DRS in a research note on Friday, February 10th. They issued a “buy” rating and a $17.00 price target on the stock. CJS Securities started coverage on shares of Leonardo DRS in a research note on Tuesday, April 4th. They issued an “outperform” rating and a $17.00 price target on the stock.

Leonardo DRS Trading Up 1.5 %

DRS stock opened at $15.33 on Friday. The firm has a market capitalization of $4.00 billion, a P/E ratio of 7.10 and a beta of 0.87. Leonardo DRS, Inc. has a twelve month low of $9.11 and a twelve month high of $15.90. The company has a 50 day moving average price of $14.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.68 and a quick ratio of 1.32.

About Leonardo DRS

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Leonardo DRS, Inc engages in the provision of defense products and technologies. It develops and manufactures defense products for the U.S. military, intelligence agencies and allies around the world. Its broad technology portfolio focuses on advanced sensing, network computing, force protection, and electrical power and propulsion, as well as a range of key defense priorities.

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Institutional Ownership by Quarter for Leonardo DRS (NASDAQ:DRS)

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