Bank of New York Mellon Corp Invests $65.29 Million in Kratos Defense & Security Solutions, Inc. $KTOS

Bank of New York Mellon Corp acquired a new position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,309,524 shares of the aerospace company's stock, valued at approximately $65,293,000. Bank of New York Mellon Corp owned approximately 0.70% of Kratos Defense & Security Solutions as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new position in Kratos Defense & Security Solutions in the second quarter worth $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Kratos Defense & Security Solutions during the 4th quarter valued at $25,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Kratos Defense & Security Solutions by 7,600.0% during the 4th quarter. Atlantic Union Bankshares Corp now owns 385 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 380 shares during the last quarter. Vision Retirement LLC boosted its position in shares of Kratos Defense & Security Solutions by 288.2% in the 1st quarter. Vision Retirement LLC now owns 427 shares of the aerospace company's stock worth $30,000 after purchasing an additional 317 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Kratos Defense & Security Solutions during the 2nd quarter worth $31,000. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Scot B. Jarvis sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $63.50, for a total transaction of $635,000.00. Following the completion of the transaction, the director directly owned 65,123 shares of the company's stock, valued at $4,135,310.50. This represents a 13.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric M. Demarco sold 300,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $64.33, for a total value of $19,299,000.00. Following the transaction, the chief executive officer owned 761,632 shares in the company, valued at $48,995,786.56. This trade represents a 28.26% 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. Insiders have sold a total of 433,688 shares of company stock worth $26,990,882 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on KTOS. UBS Group reiterated a "neutral" rating and issued a $82.00 price target on shares of Kratos Defense & Security Solutions in a research note on Thursday, May 7th. Canaccord Genuity Group upped their price objective on shares of Kratos Defense & Security Solutions from $130.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. BTIG Research increased their price objective on shares of Kratos Defense & Security Solutions from $100.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Kratos Defense & Security Solutions from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, August 5th. Finally, Wedbush started coverage on Kratos Defense & Security Solutions in a report on Tuesday, June 30th. They issued an "outperform" rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Kratos Defense & Security Solutions currently has an average rating of "Moderate Buy" and an average price target of $99.47.

Kratos Defense & Security Solutions Stock Performance

Shares of NASDAQ KTOS opened at $52.93 on Thursday. The company's fifty day moving average price is $52.54 and its 200 day moving average price is $65.73. Kratos Defense & Security Solutions, Inc. has a 1 year low of $43.09 and a 1 year high of $134.00. The company has a market capitalization of $9.94 billion, a PE ratio of 311.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.99 and a current ratio of 5.54.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. Kratos Defense & Security Solutions had a net margin of 2.03% and a return on equity of 3.07%. The company had revenue of $458.80 million during the quarter, compared to analysts' expectations of $410.36 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. On average, research analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.57 earnings per share for the current year.

Kratos Defense & Security Solutions Company Profile

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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