Nuveen LLC Takes $41.12 Million Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Key Points

• Nuveen LLC has acquired a new position in Kratos Defense & Security Solutions, purchasing approximately 1,384,909 shares valued at $41.12 million, increasing its ownership to 0.90%.
• Several institutional investors have also increased their stakes, with Invesco Ltd. growing its position by 75.2% in the first quarter, now holding shares worth about $71.33 million.
• Kratos recently reported a quarterly earnings per share (EPS) of $0.11, surpassing estimates, and its revenue rose 17.1% year-over-year, amounting to $351.5 million.

Nuveen LLC acquired a new position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,384,909 shares of the aerospace company's stock, valued at approximately $41,118,000. Nuveen LLC owned 0.90% of Kratos Defense & Security Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Kratos Defense & Security Solutions by 75.2% in the 1st quarter. Invesco Ltd. now owns 2,402,444 shares of the aerospace company's stock worth $71,329,000 after acquiring an additional 1,031,223 shares in the last quarter. Townsquare Capital LLC bought a new position in Kratos Defense & Security Solutions in the 1st quarter worth about $522,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Kratos Defense & Security Solutions by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,299 shares of the aerospace company's stock worth $543,000 after acquiring an additional 698 shares in the last quarter. WealthPlan Investment Management LLC grew its stake in Kratos Defense & Security Solutions by 107.8% in the 1st quarter. WealthPlan Investment Management LLC now owns 36,282 shares of the aerospace company's stock worth $1,077,000 after acquiring an additional 18,823 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in Kratos Defense & Security Solutions in the 1st quarter worth about $1,324,000. 75.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on KTOS. Raymond James Financial restated a "strong-buy" rating on shares of Kratos Defense & Security Solutions in a research note on Friday, August 8th. Stifel Nicolaus increased their price objective on shares of Kratos Defense & Security Solutions from $54.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, July 21st. B. Riley reiterated a "buy" rating and set a $72.00 price objective (up from $55.00) on shares of Kratos Defense & Security Solutions in a research note on Monday, August 11th. Benchmark increased their price objective on shares of Kratos Defense & Security Solutions from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Kratos Defense & Security Solutions from $50.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Kratos Defense & Security Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.64.

Insider Activity at Kratos Defense & Security Solutions

In other Kratos Defense & Security Solutions news, insider Phillip D. Carrai sold 6,000 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $42.16, for a total value of $252,960.00. Following the completion of the transaction, the insider owned 276,085 shares of the company's stock, valued at approximately $11,639,743.60. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven S. Fendley sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $34.37, for a total transaction of $515,550.00. Following the completion of the transaction, the insider directly owned 384,492 shares of the company's stock, valued at approximately $13,214,990.04. This represents a 3.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 101,786 shares of company stock worth $4,443,682. Corporate insiders own 2.37% of the company's stock.

Kratos Defense & Security Solutions Price Performance

Shares of KTOS opened at $68.50 on Friday. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 685.07 and a beta of 1.04. Kratos Defense & Security Solutions, Inc. has a twelve month low of $20.37 and a twelve month high of $72.70. The company has a quick ratio of 3.88, a current ratio of 4.43 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $51.65 and a two-hundred day moving average of $38.84.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $351.50 million during the quarter, compared to analysts' expectations of $305.67 million. Kratos Defense & Security Solutions had a net margin of 1.20% and a return on equity of 3.10%. The business's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Kratos Defense & Security Solutions Company Profile

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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