This sale was conducted under a pre-established Rule 10b5-1 trading plan, which she adopted on August 29, 2024. Additionally, on November 29, Wallace was involved in various stock transactions. She acquired 20,143 shares through the vesting of performance restricted stock units and 13,429 shares through restricted stock units, both at no cost. However, to cover tax obligations, 9,730 shares were withheld by the company at $34.77 per share, totaling $338,462, and an additional 6,487 shares were withheld, totaling $225,403. Following these transactions, Wallace holds 30,102 shares of Leonardo DRS common stock directly. The company maintains a strong financial profile with a "Good" overall health score of 2.8 on InvestingPro, which offers comprehensive insider trading analysis among its 30+ exclusive insights for DRS. The company maintains a strong financial profile with a "Good" overall health score of 2.8 on InvestingPro, which offers comprehensive insider trading analysis among its 30+ exclusive insights for DRS. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which she adopted on August 29, 2024.
Additionally, on November 29, Wallace was involved in various stock transactions. She acquired 20,143 shares through the vesting of performance restricted stock units and 13,429 shares through restricted stock units, both at no cost. However, to cover tax obligations, 9,730 shares were withheld by the company at $34.77 per share, totaling $338,462, and an additional 6,487 shares were withheld, totaling $225,403. Following these transactions, Wallace holds 30,102 shares of Leonardo DRS common stock directly.
In other recent news, Leonardo DRS has experienced strong financial growth, as reflected in its third-quarter fiscal year 2024 earnings. The defense contractor reported a 16% year-over-year increase in revenue, with bookings reaching $1.1 billion. Adjusted EBITDA and adjusted diluted EPS also saw significant rises, by 22% and 20% respectively.
Truist Securities maintained a Buy rating on Leonardo DRS and raised its price target from $32 to $36, following the company's robust financial performance. The firm's analyst cited a positive forecast for 2025, indicating continued revenue growth. Leonardo DRS reported a 12% revenue increase in 2024 and anticipates a midpoint revenue growth of 6.5% for 2025.
The company's progress on the Columbia class submarine program and the rising demand for tactical radars and force protection systems were highlighted as key contributors to its growth. Leonardo DRS updated its full-year revenue guidance for 2024 and provided preliminary expectations for 2025, signaling continued growth. These are recent developments that highlight Leonardo DRS's robust performance and strategic planning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.