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Mark Dorfman, Executive Vice President, General Counsel, and Secretary at Leonardo DRS, Inc. (NASDAQ:DRS), has recently sold shares of the company. According to a recent SEC filing, Dorfman sold 20,034 shares on March 18, 2025, at an average price of $32.69, amounting to a total transaction value of $654,911. This sale was conducted under a pre-established Rule 10b5-1 trading plan. The stock, which currently trades at $34.97, has shown strong momentum with a 50.5% return over the past year. According to InvestingPro, the company maintains a "GOOD" financial health score, suggesting solid operational performance.
In addition to the sale, Dorfman executed several other transactions on March 17, 2025. These involved the acquisition of shares through the exercise of performance restricted stock units (PRSUs) and restricted stock units (RSUs). The PRSUs and RSUs were granted under the company’s 2022 Omnibus Equity Compensation Plan, with the PRSUs vesting as part of a merger agreement involving Leonardo DRS, Inc., RADA Electronic Industries Limited, and Blackstart Ltd. With a market capitalization of $9.26 billion, Leonardo DRS has attracted positive analyst sentiment, with consensus targets ranging from $33 to $42 per share.
Dorfman acquired a total of 56,102 shares through these exercises, which were executed at no cost. Concurrently, 22,713 shares were withheld by the company to cover tax obligations, valued at $33.13 per share, totaling $752,481.
Following these transactions, Dorfman holds 45,786 shares of Leonardo DRS common stock directly.
In other recent news, Leonardo DRS has made significant strides with the delivery of its first Integrated Voice Communication Systems (IVCS) for the U.S. Navy’s Arleigh Burke DDG51-class destroyers. These systems enhance ship-wide communications by integrating various channels, such as announcing systems and radio circuits, underscoring Leonardo DRS’s role in supporting global naval operations. The company’s commitment to advanced communication technologies is evident in this milestone, which also highlights its ongoing partnership with the U.S. Navy. Additionally, BTIG analyst Andre Madrid raised the stock target for Leonardo DRS to $40, up from $38, while maintaining a Buy rating. This decision follows Leonardo DRS’s robust fourth-quarter results for 2024, which exceeded both company and consensus expectations. The company’s strong positioning in the defense industry, particularly through involvement in priority programs like the Columbia-class submarine, was highlighted as a key factor. With a record backlog of $8.5 billion, Leonardo DRS has significant revenue visibility and potential for organic growth. These developments reflect the firm’s confidence in Leonardo DRS’s future prospects.
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