Public Employees Retirement System of Ohio Invests $2.65 Million in Kratos Defense & Security Solutions, Inc. $KTOS

Key Points

• Public Employees Retirement System of Ohio acquired 53,063 Kratos shares worth approximately $2.65 million in the second quarter, while institutional investors collectively own 75.92% of the stock.
• Kratos reported quarterly revenue of $458.8 million, up 30.5% year over year, and earnings of $0.21 per share, exceeding the $0.14 consensus estimate.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $99.47, although insiders have sold more than $26.4 million in shares over the past 90 days.

Public Employees Retirement System of Ohio bought a new stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 53,063 shares of the aerospace company's stock, valued at approximately $2,646,000.

Several other institutional investors also recently bought and sold shares of the stock. Parvin Asset Management LLC bought a new stake in Kratos Defense & Security Solutions in the second quarter valued at approximately $56,000. 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 position in shares of Kratos Defense & Security Solutions in the second quarter worth $51,338,000. Ancora Advisors LLC purchased a new position in shares of Kratos Defense & Security Solutions in the second quarter worth $740,000. Finally, Jones Financial Companies Lllp bought a new stake in Kratos Defense & Security Solutions during the 2nd quarter valued at $118,000. 75.92% of the stock is currently owned by hedge funds and other institutional investors.

Kratos Defense & Security Solutions Trading Down 0.6%

Shares of NASDAQ:KTOS opened at $47.82 on Friday. The company has a market cap of $8.98 billion, a P/E ratio of 281.29 and a beta of 1.11. 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, Inc. has a 1 year low of $43.09 and a 1 year high of $134.00. The stock's fifty day moving average price is $52.50 and its 200-day moving average price is $63.86.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. Kratos Defense & Security Solutions had a return on equity of 3.07% and a net margin of 2.03%.The company had revenue of $458.80 million during the quarter, compared to the consensus estimate of $410.36 million. During the same period last year, the company earned $0.11 EPS. Kratos Defense & Security Solutions's revenue for the quarter was up 30.5% on a year-over-year basis. Sell-side analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.57 earnings per share for the current year.

Insider Activity

In other news, SVP Marie Mendoza sold 1,513 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $64.37, for a total value of $97,391.81. Following the completion of the sale, the senior vice president directly owned 61,976 shares in the company, valued at $3,989,395.12. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Demarco sold 300,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 761,632 shares of the company's stock, valued at $48,995,786.56. The trade was a 28.26% decrease in their ownership of the stock. 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 90 days, insiders have sold 424,688 shares of company stock worth $26,435,542. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KTOS. JPMorgan Chase & Co. raised shares of Kratos Defense & Security Solutions from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $99.00 to $82.00 in a report on Friday, June 12th. Piper Sandler upgraded shares of Kratos Defense & Security Solutions from a "neutral" rating to an "overweight" rating and set a $75.00 target price for the company in a report on Wednesday, August 5th. Canaccord Genuity Group raised their target price on Kratos Defense & Security Solutions from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $105.00 price target on Kratos Defense & Security Solutions in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus dropped their price objective on Kratos Defense & Security Solutions from $134.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.47.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc NASDAQ: KTOS is a technology-driven company that specializes in national security and defense solutions for government and military customers. The firm’s core capabilities span unmanned systems, satellite communications, missile defense, cyber security, and directed-energy weapons. Through its integrated approach, Kratos delivers mission-critical products and services designed to enhance operational readiness and support force modernization initiatives.

In the unmanned systems arena, Kratos develops high-performance aerial platforms used as target drones, low-cost attritable aircraft and experimental stealth demonstrators.

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