California State Teachers Retirement System Purchases 8,764 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

California State Teachers Retirement System boosted its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,714 shares of the company’s stock after acquiring an additional 8,764 shares during the period. California State Teachers Retirement System’s holdings in Leonardo DRS were worth $593,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Leonardo DRS by 9.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,125 shares of the company’s stock worth $170,000 after purchasing an additional 1,100 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Leonardo DRS by 26.5% in the first quarter. Arizona State Retirement System now owns 15,078 shares of the company’s stock valued at $196,000 after buying an additional 3,154 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Leonardo DRS during the fourth quarter valued at about $63,000. Belpointe Asset Management LLC bought a new stake in shares of Leonardo DRS during the fourth quarter worth about $65,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Leonardo DRS in the 4th quarter worth about $65,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Trading Up 1.8 %

NASDAQ DRS opened at $17.42 on Tuesday. The business’s fifty day moving average is $16.93 and its 200-day moving average is $15.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 1.40. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 7.32 and a beta of 0.92. Leonardo DRS, Inc. has a one year low of $9.11 and a one year high of $17.96.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, August 2nd. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $630.51 million. Leonardo DRS had a net margin of 14.75% and a return on equity of 8.20%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. Equities research analysts predict that Leonardo DRS, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial boosted their price objective on Leonardo DRS from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.50.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products, systems, and military support service. 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.