Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Stock Position Reduced by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. has reduced its stake in Kratos Defense & Security Solutions by 10.4%, currently holding approximately 1.16% of the company valued at $52.8 million.
• Kratos reported earnings of $0.12 per share, surpassing analysts' expectations, with a revenue increase of 9.2% year-over-year amounting to $302.6 million for the last quarter.
• Institutional investors own 75.92% of Kratos, with strong support reflected in upgraded stock ratings and target price increases from various analysts, leading to a consensus rating of "Moderate Buy."

Nikko Asset Management Americas Inc. trimmed its stake in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,780,751 shares of the aerospace company's stock after selling 205,637 shares during the quarter. Nikko Asset Management Americas Inc. owned about 1.16% of Kratos Defense & Security Solutions worth $52,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Kratos Defense & Security Solutions by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 14,719,508 shares of the aerospace company's stock worth $388,301,000 after purchasing an additional 701,216 shares during the period. FMR LLC raised its position in shares of Kratos Defense & Security Solutions by 7.6% during the 4th quarter. FMR LLC now owns 4,340,795 shares of the aerospace company's stock worth $114,510,000 after purchasing an additional 307,907 shares during the period. Ameriprise Financial Inc. raised its position in shares of Kratos Defense & Security Solutions by 6.9% during the 4th quarter. Ameriprise Financial Inc. now owns 3,130,109 shares of the aerospace company's stock worth $82,576,000 after purchasing an additional 203,245 shares during the period. Franklin Resources Inc. raised its position in shares of Kratos Defense & Security Solutions by 11.3% during the 4th quarter. Franklin Resources Inc. now owns 3,116,164 shares of the aerospace company's stock worth $82,204,000 after purchasing an additional 317,305 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Kratos Defense & Security Solutions by 9.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,079,022 shares of the aerospace company's stock worth $54,845,000 after purchasing an additional 172,030 shares during the period. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Kratos Defense & Security Solutions Stock Up 1.9%

Shares of KTOS stock opened at $59.77 on Friday. Kratos Defense & Security Solutions, Inc. has a 1 year low of $17.91 and a 1 year high of $61.43. The stock has a market cap of $9.17 billion, a PE ratio of 459.80 and a beta of 1.06. The business's fifty day moving average is $44.20 and its 200-day moving average is $35.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.84.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Kratos Defense & Security Solutions had a return on equity of 3.85% and a net margin of 1.68%. The company had revenue of $302.60 million for the quarter, compared to analysts' expectations of $292.25 million. During the same period last year, the firm earned $0.11 EPS. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KTOS has been the topic of a number of research reports. The Goldman Sachs Group upgraded Kratos Defense & Security Solutions from a "neutral" rating to a "buy" rating and set a $52.00 price target on the stock in a research report on Monday, June 30th. Noble Financial reiterated an "outperform" rating on shares of Kratos Defense & Security Solutions in a research report on Monday, July 14th. Benchmark raised their target price on Kratos Defense & Security Solutions from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Citigroup restated a "market outperform" rating on shares of Kratos Defense & Security Solutions in a research report on Tuesday. Finally, Truist Financial raised their target price on Kratos Defense & Security Solutions from $38.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.08.

Insider Activity at Kratos Defense & Security Solutions

In other news, insider Jonah Adelman sold 40,000 shares of Kratos Defense & Security Solutions stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $33.76, for a total transaction of $1,350,400.00. Following the transaction, the insider directly owned 39,348 shares in the company, valued at approximately $1,328,388.48. This trade represents a 50.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Deanna H. Lund sold 6,567 shares of Kratos Defense & Security Solutions stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $37.75, for a total value of $247,904.25. Following the completion of the transaction, the chief financial officer owned 318,766 shares in the company, valued at $12,033,416.50. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,572 shares of company stock worth $5,586,226 in the last quarter. Company insiders own 2.37% of the company's stock.

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.

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