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Sally Wallace, Executive Vice President of Business Operations at Leonardo DRS, Inc. (NASDAQ:DRS), recently sold a significant portion of the company’s stock. According to a recent SEC filing, Wallace sold 8,353 shares of common stock on March 18, 2025, at an average price of $32.84 per share. This transaction amounted to a total value of approximately $274,312. The stock, which currently trades at $34.97, has shown strong momentum with a 50.5% return over the past year. According to InvestingPro analysis, the company appears to be fairly valued based on its proprietary Fair Value model.
The sale was conducted under a Rule 10b5-1 trading plan, which Wallace adopted on August 29, 2024. This type of plan allows insiders of publicly traded corporations to set up a predetermined schedule for selling stocks, providing a defense against potential accusations of insider trading. The company, with a market capitalization of $9.26 billion, maintains a strong financial position, earning a "GOOD" overall health score from InvestingPro’s comprehensive analysis framework.
In addition to the sale, Wallace engaged in several other transactions on March 17, 2025. These included the acquisition of shares through the exercise of performance and restricted stock units, as well as shares withheld by the company to cover tax obligations. The transactions related to tax withholding involved the disposition of 22,691 shares at a price of $33.13 per share, totaling approximately $751,752.
Following these transactions, Wallace’s direct ownership of Leonardo DRS stock stands at 55,160 shares.
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. These systems are designed to enhance ship-wide communications by integrating various channels, such as radio and battle sound-powered telephone circuits. This delivery marks a significant milestone in Leonardo DRS’s ongoing partnership with the U.S. Navy, showcasing its commitment to providing advanced communication technologies. Additionally, BTIG analyst Andre Madrid raised the stock target for Leonardo DRS to $40, up from $38, while maintaining a Buy rating. This adjustment follows Leonardo DRS’s strong fourth-quarter results for 2024, which exceeded expectations and highlighted the company’s robust position in the defense sector. The firm’s record backlog of $8.5 billion further supports its projected organic growth range of 6-9%. Madrid emphasized Leonardo DRS’s involvement in critical programs, such as the Columbia-class submarine, as a key factor in its favorable outlook. These recent developments underscore Leonardo DRS’s strategic role in defense communications and its promising future prospects.
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