Invesco Ltd. Acquires New Holdings in Karman Holdings Inc. $KRMN

Key Points

• Invesco Ltd. has acquired a significant stake in Karman Holdings Inc., purchasing 1,502,706 shares valued at approximately $50.2 million.
• Several institutional investors have also increased their holdings in Karman during the first quarter, including TD Asset Management, which invested about $925,000.
• Insider transactions included Karman's CFO selling 100,000 shares for $4.9 million, resulting in a 9.3% reduction in their ownership of the stock.

Invesco Ltd. purchased a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,502,706 shares of the company's stock, valued at approximately $50,220,000. Invesco Ltd. owned approximately 1.14% of Karman at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC acquired a new stake in Karman during the 1st quarter valued at $8,740,000. Jennison Associates LLC acquired a new position in Karman during the 1st quarter worth $5,740,000. TD Asset Management Inc acquired a new position in Karman during the 1st quarter worth $925,000. Massachusetts Financial Services Co. MA acquired a new position in Karman during the 1st quarter worth $33,985,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Karman during the 1st quarter worth $2,505,000.

Wall Street Analyst Weigh In

KRMN has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Citigroup reissued a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a report on Monday, June 9th. Finally, Royal Bank Of Canada raised their price objective on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $50.75.

Insider Buying and Selling at Karman

In other news, COO Jonathan Beaudoin sold 80,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $3,920,000.00. Following the transaction, the chief operating officer directly owned 740,861 shares in the company, valued at approximately $36,302,189. This trade represents a 9.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Sawhill sold 62,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $3,038,000.00. Following the completion of the transaction, the insider owned 566,939 shares in the company, valued at approximately $27,780,011. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432.

Karman Trading Up 1.9%

Shares of Karman stock traded up $0.99 during trading hours on Friday, reaching $53.22. The company's stock had a trading volume of 263,432 shares, compared to its average volume of 1,174,855. The business's 50 day moving average price is $49.27. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Karman's revenue for the quarter was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.