Essex Investment Management Co. LLC Reduces Stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Essex Investment Management Co. LLC trimmed its stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 371,514 shares of the aerospace company's stock after selling 79,616 shares during the quarter. Kratos Defense & Security Solutions makes up about 1.5% of Essex Investment Management Co. LLC's portfolio, making the stock its 7th biggest holding. Essex Investment Management Co. LLC owned 0.29% of Kratos Defense & Security Solutions worth $7,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Kratos Defense & Security Solutions during the 4th quarter worth about $1,628,000. FMR LLC grew its position in Kratos Defense & Security Solutions by 56.4% during the third quarter. FMR LLC now owns 3,026,556 shares of the aerospace company's stock worth $45,459,000 after buying an additional 1,091,380 shares in the last quarter. Profit Investment Management LLC bought a new position in Kratos Defense & Security Solutions during the 4th quarter worth $2,608,000. Raymond James & Associates raised its holdings in Kratos Defense & Security Solutions by 54.6% in the 4th quarter. Raymond James & Associates now owns 188,105 shares of the aerospace company's stock valued at $3,817,000 after acquiring an additional 66,442 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Kratos Defense & Security Solutions by 23.0% during the 3rd quarter. Wellington Management Group LLP now owns 366,089 shares of the aerospace company's stock valued at $5,499,000 after acquiring an additional 68,566 shares during the period. Institutional investors and hedge funds own 75.92% of the company's stock.

Kratos Defense & Security Solutions Trading Up 0.6 %

NASDAQ:KTOS traded up $0.12 on Friday, reaching $19.85. 1,329,530 shares of the stock traded hands, compared to its average volume of 1,252,397. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 76.35 and a beta of 0.81. Kratos Defense & Security Solutions, Inc. has a 1-year low of $12.88 and a 1-year high of $21.60. The company has a current ratio of 3.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $18.09 and its 200-day moving average is $18.57.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last announced its earnings results on Tuesday, May 7th. The aerospace company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The business had revenue of $277.20 million during the quarter, compared to the consensus estimate of $250.48 million. Kratos Defense & Security Solutions had a negative net margin of 0.06% and a positive return on equity of 3.43%. Kratos Defense & Security Solutions's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. Equities research analysts anticipate that Kratos Defense & Security Solutions, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, CFO Deanna H. Lund sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief financial officer now owns 214,765 shares of the company's stock, valued at $4,295,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Steven S. Fendley sold 7,000 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $18.24, for a total value of $127,680.00. Following the completion of the sale, the insider now directly owns 345,711 shares of the company's stock, valued at approximately $6,305,768.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Deanna H. Lund sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total value of $120,000.00. Following the completion of the transaction, the chief financial officer now owns 214,765 shares in the company, valued at approximately $4,295,300. The disclosure for this sale can be found here. Insiders have sold 47,538 shares of company stock valued at $893,419 in the last ninety days. 2.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KTOS has been the subject of a number of analyst reports. Benchmark reaffirmed a "buy" rating and issued a $25.00 price target on shares of Kratos Defense & Security Solutions in a research note on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on shares of Kratos Defense & Security Solutions from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, February 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Kratos Defense & Security Solutions in a research note on Wednesday, February 14th. Jefferies Financial Group dropped their price objective on Kratos Defense & Security Solutions from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Wednesday, April 10th. Finally, Raymond James upgraded Kratos Defense & Security Solutions from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $20.00 to $27.00 in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kratos Defense & Security Solutions has an average rating of "Moderate Buy" and an average target price of $22.14.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.

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