Bank of America Corp DE Sells 61,641 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Bank of America Corp DE cut its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 327,186 shares of the aerospace company's stock after selling 61,641 shares during the quarter. Bank of America Corp DE owned about 0.22% of Kratos Defense & Security Solutions worth $8,631,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KTOS. WealthPlan Investment Management LLC purchased a new position in Kratos Defense & Security Solutions in the fourth quarter valued at about $461,000. Cornell Pochily Investment Advisors Inc. purchased a new position in shares of Kratos Defense & Security Solutions during the fourth quarter valued at approximately $207,000. Stifel Financial Corp lifted its stake in shares of Kratos Defense & Security Solutions by 17.5% during the fourth quarter. Stifel Financial Corp now owns 295,980 shares of the aerospace company's stock valued at $7,808,000 after buying an additional 44,048 shares during the period. Robertson Stephens Wealth Management LLC lifted its stake in shares of Kratos Defense & Security Solutions by 121.3% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 30,371 shares of the aerospace company's stock valued at $801,000 after buying an additional 16,650 shares during the period. Finally, BXM Wealth LLC purchased a new position in Kratos Defense & Security Solutions during the fourth quarter worth approximately $388,000. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Phillip D. Carrai sold 20,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $26.33, for a total transaction of $526,600.00. Following the transaction, the insider now owns 263,283 shares of the company's stock, valued at approximately $6,932,241.39. The trade was a 7.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven S. Fendley sold 7,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $37.05, for a total transaction of $259,350.00. Following the transaction, the insider now directly owns 377,478 shares in the company, valued at $13,985,559.90. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,617 shares of company stock valued at $4,917,521. 2.37% of the stock is owned by company insiders.

Analyst Ratings Changes

KTOS has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on shares of Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Benchmark raised their price target on shares of Kratos Defense & Security Solutions from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. JMP Securities restated an "outperform" rating on shares of Kratos Defense & Security Solutions in a research report on Tuesday, February 4th. Wall Street Zen downgraded shares of Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Kratos Defense & Security Solutions from $27.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Kratos Defense & Security Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $36.75.

Kratos Defense & Security Solutions Stock Down 2.4%

Shares of KTOS stock traded down $0.90 during trading on Thursday, hitting $36.43. 1,581,242 shares of the company were exchanged, compared to its average volume of 1,683,369. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.61 and a current ratio of 3.22. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 364.34 and a beta of 1.03. The business's 50-day simple moving average is $33.26 and its 200 day simple moving average is $30.35. Kratos Defense & Security Solutions, Inc. has a twelve month low of $17.91 and a twelve month high of $39.16.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Kratos Defense & Security Solutions had a net margin of 1.31% and a return on equity of 3.68%. The company had revenue of $302.60 million for the quarter, compared to analyst estimates of $292.25 million. During the same quarter last year, the firm posted $0.11 earnings per share. The company's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current fiscal year.

Kratos Defense & Security Solutions Profile

Kratos Defense & Security Solutions, Inc engages in the provision of mission critical products, services and solutions for United States national security priorities. It operates through the Kratos Government Solutions (KGS) and Unmanned Systems (US) segments. The KGS segment consists of an aggregation of KGS operating segments, including microwave electronic products, space, satellite and cyber, training solutions.