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Michael Dippold, the Executive Vice President and Chief Financial Officer of Leonardo DRS, Inc. (NASDAQ:DRS), recently executed a series of stock transactions, according to a recent SEC filing. The transactions come as the company’s stock has delivered an impressive 58.67% return over the past year, significantly outperforming many peers. According to InvestingPro data, the company maintains a robust financial health score of "Good." On March 18, Dippold sold 26,618 shares of Leonardo DRS common stock at a weighted average price of $32.70, amounting to a total of approximately $870,408. This sale was conducted under a pre-established Rule 10b5-1 trading plan. With the stock currently trading at $34.97 and analyst targets ranging from $33 to $42, the stock appears to be trading above its Fair Value.
The transactions also included several acquisitions of stock through the exercise of performance restricted stock units (PRSUs) and restricted stock units (RSUs) on March 17. These exercises resulted in the acquisition of 34,213 PRSUs, 32,422 PRSUs, and 13,509 RSUs, all at no cost. However, to cover tax obligations, Dippold had 31,752 shares withheld by the company, valued at $33.13 per share, totaling approximately $1,051,943.
Following these transactions, Dippold holds 68,802 shares of Leonardo DRS common stock directly. The sales and acquisitions were part of Dippold’s ongoing management of his equity holdings in the company.
In other recent news, Leonardo DRS announced the delivery of its first Integrated Voice Communication Systems (IVCS) for the U.S. Navy’s Arleigh Burke DDG51-class destroyers. This system is designed to enhance ship-wide communications, integrating multiple channels like ship’s announcing systems and radio circuits. The delivery signifies a continued commitment to supporting the U.S. Navy with advanced communication technologies. In another development, BTIG analyst Andre Madrid raised the price target for Leonardo DRS to $40, up from $38, maintaining a Buy rating. This decision follows Leonardo DRS’s robust fourth-quarter results for 2024, which exceeded both the company’s outlook and consensus expectations. The analyst highlighted the company’s strong positioning within the defense sector, particularly due to its involvement in priority programs like the Columbia-class submarine. Leonardo DRS’s record backlog of $8.5 billion was noted as a key factor in its revenue visibility, suggesting potential for future growth. These recent developments underscore Leonardo DRS’s strategic role in defense technology and its prospects for continued success.
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