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David A. O’Neil, President and CEO of Espey Mfg & Electronics Corp (NYSE:ESP), recently sold 5,000 shares of the company’s common stock. The transaction, dated May 19, 2025, was executed at a price of $35.80 per share, amounting to a total of $179,000. Following this sale, O’Neil retains direct ownership of 5,000 shares, with an additional 19,914 shares held in his ESOP account. The stock currently trades at a P/E ratio of 12.8, and InvestingPro subscribers have access to 10+ additional exclusive insights about ESP’s valuation and growth prospects.
In other recent news, Espey Mfg. & Electronics Corp. has been awarded a significant $19.8 million contract to supply electrical power transformers for the U.S. Navy’s Virginia and Columbia class submarines. This contract highlights Espey’s ongoing collaboration with General Dynamics (NYSE:GD) Electric Boat and the U.S. Navy, marking a substantial role in the Department of Defense’s strategic priorities. Additionally, Espey Mfg. has finalized new employment agreements with two key executives, Jennifer Pickering and Kaitlyn O’Neil. These contracts include provisions for automatic annual renewal and severance pay, ensuring stability within the company’s leadership team. The agreements reflect standard corporate governance practices and demonstrate the company’s commitment to maintaining structured leadership roles. The specifics of the compensation were not disclosed, but the agreements aim to provide mutual assurances between the executives and the corporation. These developments underscore Espey’s role as a trusted supplier in the defense sector and its efforts to secure leadership stability.
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