Cetera Investment Advisers Makes New $1.07 Million Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Cetera Investment Advisers purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,034 shares of the company’s stock, valued at approximately $1,072,000.

A number of other large investors have also bought and sold shares of DRS. Vanguard Group Inc. boosted its position in shares of Leonardo DRS by 50.8% during the fourth quarter. Vanguard Group Inc. now owns 7,389,350 shares of the company’s stock valued at $148,083,000 after purchasing an additional 2,490,447 shares in the last quarter. Swiss National Bank boosted its position in shares of Leonardo DRS by 50.5% during the first quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $3,431,000 after purchasing an additional 52,100 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Leonardo DRS by 33.9% during the first quarter. California State Teachers Retirement System now owns 77,704 shares of the company’s stock valued at $1,716,000 after purchasing an additional 19,673 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Leonardo DRS during the first quarter valued at approximately $725,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Leonardo DRS by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,180,347 shares of the company’s stock worth $48,165,000 after acquiring an additional 290,188 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Stock Up 0.1 %

Shares of NASDAQ DRS opened at $28.85 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.59 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. Leonardo DRS, Inc. has a 12-month low of $17.97 and a 12-month high of $30.98. The stock’s fifty day simple moving average is $28.20 and its two-hundred day simple moving average is $25.60.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $753.00 million during the quarter, compared to analysts’ expectations of $680.38 million. Leonardo DRS had a return on equity of 9.48% and a net margin of 6.12%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, analysts expect that Leonardo DRS, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DRS. Truist Financial upped their price objective on Leonardo DRS from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their price objective on Leonardo DRS from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Bank of America cut 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 research report on Tuesday, September 24th. Finally, BTIG Research upped their price objective on Leonardo DRS from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.17.

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.