Cetera Investment Advisers Buys New Shares in Leonardo DRS, Inc. (NASDAQ:DRS)

Cetera Investment Advisers acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 42,034 shares of the company's stock, valued at approximately $1,072,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Leonardo DRS by 1,325.9% in 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. EntryPoint Capital LLC increased its position in Leonardo DRS by 165.8% during the 1st quarter. EntryPoint Capital LLC now owns 1,656 shares of the company's stock worth $37,000 after purchasing an additional 1,033 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Leonardo DRS during the 4th quarter worth approximately $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Leonardo DRS in the 1st quarter valued at approximately $50,000. Finally, Comerica Bank boosted 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. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Leonardo DRS Price Performance

NASDAQ:DRS traded down $0.13 during mid-day trading on Friday, hitting $28.72. 722,415 shares of the company's stock traded hands, compared to its average volume of 618,826. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.01. The company has a market cap of $7.57 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96. The firm's 50 day simple moving average is $28.20 and its 200 day simple moving average is $25.60. Leonardo DRS, Inc. has a 1 year low of $17.97 and a 1 year high of $30.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued 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. Leonardo DRS had a net margin of 6.12% and a return on equity of 9.48%. The business had revenue of $753.00 million during the quarter, compared to analysts' expectations of $680.38 million. During the same period last year, the company posted $0.15 EPS. The company's revenue was up 19.9% on a year-over-year basis. Sell-side analysts expect that Leonardo DRS, Inc. will post 0.86 EPS for the current year.

Leonardo DRS Company 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.