Kratos Defense & Security Solutions, Inc. $KTOS Shares Newly Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management initiated a position in Kratos Defense & Security Solutions, buying 26,420 shares valued at approximately $1.13 million. Institutional investors collectively own 75.92% of KTOS.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $89.50, despite several recent target reductions.
• KTOS shares opened at $38.68, near their 12-month low of $36.37. The company recently beat quarterly estimates, reporting $0.21 in EPS and $458.8 million in revenue, up 30.5% year over year.

Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,420 shares of the aerospace company's stock, valued at approximately $1,128,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KTOS. Bank of New York Mellon Corp boosted its position 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. Principal Financial Group Inc. increased its position in shares of Kratos Defense & Security Solutions by 48.0% in the first quarter. Principal Financial Group Inc. now owns 1,056,872 shares of the aerospace company's stock worth $74,520,000 after purchasing an additional 342,789 shares during the last quarter. Bamco Inc. NY bought a new position in shares of Kratos Defense & Security Solutions in the second quarter worth approximately $53,746,000. American Capital Management Inc. purchased a new stake in Kratos Defense & Security Solutions in the second quarter valued at approximately $51,338,000. Finally, Sei Investments Co. raised its stake in Kratos Defense & Security Solutions by 33.1% in the first quarter. Sei Investments Co. now owns 570,631 shares of the aerospace company's stock valued at $40,234,000 after purchasing an additional 142,000 shares in the last quarter. Hedge funds and other institutional investors own 75.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KTOS shares. Citigroup reissued a "market outperform" rating on shares of Kratos Defense & Security Solutions in a research note on Monday. Piper Sandler decreased their price target on shares of Kratos Defense & Security Solutions from $75.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday. Truist Financial lowered their price objective on shares of Kratos Defense & Security Solutions from $135.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. The Goldman Sachs Group dropped their price objective on shares of Kratos Defense & Security Solutions from $88.00 to $77.00 and set a "buy" rating for the company in a report on Monday, October 12th. Finally, Barclays began coverage on shares of Kratos Defense & Security Solutions in a report on Friday, October 9th. They set an "overweight" rating and a $90.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.50.

Insider Buying and Selling at Kratos Defense & Security Solutions

In other news, insider Phillip Carrai sold 26,500 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $63.25, for a total value 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. The trade was a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Demarco sold 300,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $64.33, for a total transaction of $19,299,000.00. Following the completion of the sale, the chief executive officer directly owned 761,632 shares of the company's stock, valued at $48,995,786.56. This trade represents a 28.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 382,013 shares of company stock valued at $23,856,842. 1.50% of the stock is currently owned by corporate insiders.

Kratos Defense & Security Solutions Price Performance

Shares of Kratos Defense & Security Solutions stock opened at $38.68 on Friday. The company has a current ratio of 5.54, a quick ratio of 4.99 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $7.26 billion, a PE ratio of 79.73 and a beta of 1.11. The business's 50-day moving average price is $46.80 and its 200-day moving average price is $53.58. Kratos Defense & Security Solutions, Inc. has a 12 month low of $36.37 and a 12 month high of $134.00.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last announced 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. The company had revenue of $458.80 million for the quarter, compared to analysts' expectations of $410.36 million. Kratos Defense & Security Solutions had a return on equity of 3.07% and a net margin of 2.03%. Kratos Defense & Security Solutions's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. Sell-side analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.58 EPS for the current fiscal year.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc is a technology and defense contractor that develops systems and products for national security applications. The company supports the U.S. Department of Defense, intelligence agencies, national security-related organizations and selected commercial customers, with an emphasis on affordable, rapidly deployable technologies.

Its offerings include unmanned aerial and target systems, hypersonic and high-speed systems, rocket and propulsion technologies, satellite communications equipment, microwave electronics, radar and missile-defense systems, electronic warfare solutions, command-and-control systems, and virtual and live training products.

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