Wellington Management Group LLP lowered its position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS – Free Report) by 13.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,251,028 shares of the aerospace company’s stock after selling 343,972 shares during the period. Wellington Management Group LLP owned 1.20% of Kratos Defense & Security Solutions worth $112,236,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new position in Kratos Defense & Security Solutions in the 2nd quarter worth about $25,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Kratos Defense & Security Solutions in the fourth quarter valued at approximately $25,000. Atlantic Union Bankshares Corp raised its holdings in shares of Kratos Defense & Security Solutions by 7,600.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 385 shares of the aerospace company’s stock valued at $29,000 after buying an additional 380 shares during the last quarter. Vision Retirement LLC raised its holdings in shares of Kratos Defense & Security Solutions by 288.2% during the first quarter. Vision Retirement LLC now owns 427 shares of the aerospace company’s stock valued at $30,000 after buying an additional 317 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Kratos Defense & Security Solutions during the second quarter worth approximately $31,000. 75.92% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on KTOS shares. Citigroup reissued a “market outperform” rating on shares of Kratos Defense & Security Solutions in a report on Tuesday, July 28th. Stifel Nicolaus reduced their price target on Kratos Defense & Security Solutions from $134.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings cut Kratos Defense & Security Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald lowered their price target on Kratos Defense & Security Solutions from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upgraded shares of Kratos Defense & Security Solutions from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $99.00 to $82.00 in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.47.
Insider Buying and Selling at Kratos Defense & Security Solutions
In other news, CEO Eric M. Demarco sold 300,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $64.33, for a total transaction of $19,299,000.00. Following the completion of the transaction, the chief executive officer owned 761,632 shares in the company, valued at approximately $48,995,786.56. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Phillip D. Carrai sold 26,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $63.25, for a total transaction of $1,676,125.00. Following the transaction, the insider owned 182,084 shares of the company’s stock, valued at approximately $11,516,813. This trade represents a 12.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 428,688 shares of company stock valued at $26,672,182. Corporate insiders own 1.50% of the company’s stock.
Kratos Defense & Security Solutions Stock Performance
KTOS opened at $49.34 on Wednesday. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 290.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.54 and a quick ratio of 4.99. Kratos Defense & Security Solutions, Inc. has a 1-year low of $43.09 and a 1-year high of $134.00. The business has a 50 day moving average price of $52.45 and a two-hundred day moving average price of $64.54.
Kratos Defense & Security Solutions (NASDAQ:KTOS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.07. Kratos Defense & Security Solutions had a return on equity of 3.07% and a net margin of 2.03%.The company had revenue of $458.80 million for the quarter, compared to analysts’ expectations of $410.36 million. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.57 EPS for the current fiscal year.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc (NASDAQ: KTOS) is a technology-driven company that specializes in national security and defense solutions for government and military customers. The firm’s core capabilities span unmanned systems, satellite communications, missile defense, cyber security, and directed-energy weapons. Through its integrated approach, Kratos delivers mission-critical products and services designed to enhance operational readiness and support force modernization initiatives.
In the unmanned systems arena, Kratos develops high-performance aerial platforms used as target drones, low-cost attritable aircraft and experimental stealth demonstrators.
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