California State Teachers Retirement System Purchases 21,360 Shares of Kratos Defense & Security Solutions, Inc. $KTOS

Key Points

• California State Teachers Retirement System increased its Kratos stake by 10.9% in the second quarter, purchasing 21,360 shares and bringing its holdings to 217,425 shares valued at approximately $10.8 million. Institutional investors collectively own 75.92% of the company.
• Kratos reported a strong quarter, with EPS of $0.21 versus the $0.14 consensus estimate and revenue of $458.8 million, up 30.5% year over year and above analyst expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $98.06, although targets have varied and insiders sold 381,688 shares worth about $23.9 million over the past quarter.

California State Teachers Retirement System grew its position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,425 shares of the aerospace company's stock after buying an additional 21,360 shares during the period. California State Teachers Retirement System owned 0.12% of Kratos Defense & Security Solutions worth $10,840,811 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Kratos Defense & Security Solutions by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 4,446,230 shares of the aerospace company's stock valued at $337,565,000 after purchasing an additional 148,622 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Kratos Defense & Security Solutions by 48.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,458,084 shares of the aerospace company's stock worth $110,683,000 after purchasing an additional 476,049 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Kratos Defense & Security Solutions by 12.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,515,997 shares of the aerospace company's stock valued at $106,893,000 after acquiring an additional 164,607 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Kratos Defense & Security Solutions by 66.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,398,525 shares of the aerospace company's stock worth $106,162,000 after acquiring an additional 556,036 shares during the last quarter. Finally, Norges Bank bought a new position in Kratos Defense & Security Solutions in the 4th quarter worth approximately $104,807,000. Institutional investors own 75.92% of the company's stock.

Kratos Defense & Security Solutions Stock Performance

NASDAQ KTOS traded up $0.78 on Tuesday, reaching $48.36. The stock had a trading volume of 2,712,275 shares, compared to its average volume of 4,322,180. The firm has a fifty day moving average of $51.90 and a two-hundred day moving average of $61.63. The company has a market cap of $9.08 billion, a P/E ratio of 284.45 and a beta of 1.11. 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 debt-to-equity ratio of 0.04, a current ratio of 5.54 and a quick ratio of 4.99.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last announced its 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. The firm had revenue of $458.80 million during the quarter, compared to analyst estimates of $410.36 million. Kratos Defense & Security Solutions had a return on equity of 3.07% and a net margin of 2.03%.The business's revenue was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that Kratos Defense & Security Solutions, Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Kratos Defense & Security Solutions from $135.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Canaccord Genuity Group boosted their price target on shares of Kratos Defense & Security Solutions from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group cut their target price on shares of Kratos Defense & Security Solutions from $100.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Kratos Defense & Security Solutions from a "hold (c)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $105.00 price target on shares of Kratos Defense & Security Solutions in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.06.

Insider Activity

In other news, insider Steven Fendley sold 7,000 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $47.13, for a total transaction of $329,910.00. Following the sale, the insider owned 295,120 shares in the company, valued at $13,909,005.60. This trade represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Phillip Carrai sold 26,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $63.25, for a total transaction of $1,676,125.00. Following the completion of the sale, the insider directly owned 182,084 shares in the company, valued at approximately $11,516,813. This trade represents a 12.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 381,688 shares of company stock valued at $23,935,287 over the last quarter. Insiders own 1.50% of the company's stock.

Kratos Defense & Security Solutions Profile

Kratos Defense & Security Solutions, Inc is a technology company that develops products and systems for national security, defense and commercial applications. The company primarily serves the U.S. Department of Defense and other government agencies, while also supporting allied governments and selected commercial customers.

Its offerings include unmanned aerial and ground systems, target drones, tactical drones, satellite communications systems, space-related products, missile defense technology, hypersonic and high-speed systems, radar and command-and-control solutions, and microwave electronics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.