Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 15.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KTOS. Summit Investment Advisors Inc. boosted its holdings in shares of Kratos Defense & Security Solutions by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,479 shares of the aerospace company's stock valued at $408,000 after buying an additional 490 shares in the last quarter. MRP Capital Investments LLC lifted its position in Kratos Defense & Security Solutions by 28.6% in the fourth quarter. MRP Capital Investments LLC now owns 2,250 shares of the aerospace company's stock valued at $59,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System boosted its stake in Kratos Defense & Security Solutions by 1.4% in the fourth quarter. Arizona State Retirement System now owns 43,807 shares of the aerospace company's stock valued at $1,156,000 after acquiring an additional 586 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Kratos Defense & Security Solutions by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,284 shares of the aerospace company's stock worth $34,000 after purchasing an additional 610 shares during the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Kratos Defense & Security Solutions by 86.6% during the fourth quarter. Hemington Wealth Management now owns 1,360 shares of the aerospace company's stock worth $35,000 after purchasing an additional 631 shares during the last quarter. 75.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KTOS shares. Wall Street Zen downgraded Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on 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. Royal Bank of Canada increased their price objective on Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Truist Financial raised their target price on shares of Kratos Defense & Security Solutions from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Benchmark upped their price target on shares of Kratos Defense & Security Solutions from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

Kratos Defense & Security Solutions Stock Performance

Shares of NASDAQ:KTOS traded up $2.11 during trading on Tuesday, reaching $38.12. The company had a trading volume of 2,996,478 shares, compared to its average volume of 1,677,709. Kratos Defense & Security Solutions, Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $39.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.22 and a quick ratio of 2.61. The stock's fifty day moving average price is $32.92 and its 200 day moving average price is $30.18. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 381.24 and a beta of 1.03.

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

Insider Transactions at Kratos Defense & Security Solutions

In other news, insider Thomas E. Iv Mills sold 5,786 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.11, for a total value of $191,574.46. Following the completion of the sale, the insider now directly owns 15,332 shares of the company's stock, valued at $507,642.52. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phillip D. Carrai sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.51, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 283,283 shares in the company, valued at approximately $7,509,832.33. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,617 shares of company stock worth $4,658,171 over the last ninety days. 2.37% of the stock is currently owned by company insiders.

About Kratos Defense & Security Solutions

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.