Michael Dippold, the Executive Vice President and Chief Financial Officer of Leonardo DRS, Inc. (NASDAQ:DRS), recently sold a significant portion of company stock. According to a recent SEC filing, Dippold sold 25,880 shares on December 2 at a weighted average price of $34.08, totaling approximately $881,990. This transaction was executed under a pre-established Rule 10b5-1 trading plan. The stock, currently trading at $34.90, has shown remarkable strength with a 72% gain year-to-date. According to InvestingPro analysis, the company appears to be trading above its Fair Value, with analysts setting price targets between $32 and $42.
In addition to the sale, Dippold also executed several stock transactions on November 29. He acquired 51,429 shares and 34,286 shares through the vesting of performance restricted stock units and restricted stock units, respectively. These acquisitions were part of Leonardo DRS's 2022 Omnibus Equity Compensation Plan and involved no cash exchange. Following these transactions, Dippold's direct ownership stood at 47,028 shares. The company, with a market capitalization of $9.2 billion, maintains a "GOOD" financial health score according to InvestingPro, which offers comprehensive insider trading analysis and over 30 additional financial metrics in its Pro Research Report.
In other recent news, Leonardo DRS, the defense contractor, has been receiving positive attention from Truist Securities. Following a robust third-quarter performance, the firm maintained a Buy rating for Leonardo DRS and increased its price target from $32 to $36. The company reported a 12% revenue increase for 2024, with projections for 2025 suggesting a continuation of this positive trend, expecting a revenue growth midpoint of 6.5%.
Analysts predict that if this momentum is maintained, the company's revenue base could reach approximately $3.7 billion by 2026, surpassing the current market consensus of $3.58 billion. A significant 16% year-over-year increase in revenue was also reported in the company's third-quarter fiscal year 2024 earnings call, alongside a rise in adjusted EBITDA and adjusted diluted EPS by 22% and 20% respectively.
The company's recent success is partly due to the progress of the Columbia class submarine program and the rising demand for tactical radars and force protection systems. These are just some of the recent developments that highlight Leonardo DRS's strong performance and strategic planning.
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