Public Employees Retirement System of Ohio Purchases Shares of 53,063 Kratos Defense & Security Solutions, Inc. $KTOS

Public Employees Retirement System of Ohio purchased a new stake in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) in the 2nd quarter, Holdings Channel reports. The fund purchased 53,063 shares of the aerospace company’s stock, valued at approximately $2,646,000.

Other institutional investors have also recently made changes to their positions in the company. Corient Private Wealth LLC grew its position in Kratos Defense & Security Solutions by 7,701.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,593,549 shares of the aerospace company’s stock valued at $120,966,000 after buying an additional 1,573,123 shares during the period. Norges Bank bought a new position in Kratos Defense & Security Solutions in the fourth quarter worth approximately $104,807,000. Bank of New York Mellon Corp purchased a new position in shares of Kratos Defense & Security Solutions during the 2nd quarter worth $65,293,000. Bamco Inc. NY purchased a new position in shares of Kratos Defense & Security Solutions during the 2nd quarter worth $53,746,000. Finally, American Capital Management Inc. bought a new stake in shares of Kratos Defense & Security Solutions during the 2nd quarter valued at $51,338,000. Institutional investors own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Stock Performance

Shares of NASDAQ:KTOS opened at $47.82 on Friday. The stock has a market capitalization of $8.98 billion, a P/E ratio of 281.29 and a beta of 1.11. Kratos Defense & Security Solutions, Inc. has a 52 week low of $43.09 and a 52 week high of $134.00. The company has a quick ratio of 4.99, a current ratio of 5.54 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $52.50 and a two-hundred day simple moving average of $63.86.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last issued its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $458.80 million for the quarter, compared to the consensus estimate of $410.36 million. Kratos Defense & Security Solutions had a return on equity of 3.07% and a net margin of 2.03%.The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. On average, analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Phillip D. Carrai sold 26,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was 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 $11,516,813. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 owned 761,632 shares in the company, valued at $48,995,786.56. This trade represents a 28.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 424,688 shares of company stock worth $26,435,542 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KTOS. Wedbush initiated coverage on Kratos Defense & Security Solutions in a report on Tuesday, June 30th. They issued an “outperform” rating and a $85.00 target price on the stock. Truist Financial reduced their price target on Kratos Defense & Security Solutions from $135.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Cantor Fitzgerald decreased their price objective on Kratos Defense & Security Solutions from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Piper Sandler upgraded Kratos Defense & Security Solutions from a “neutral” rating to an “overweight” rating and set a $75.00 price objective for the company in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised shares of Kratos Defense & Security Solutions from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $99.00 to $82.00 in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.47.

Kratos Defense & Security Solutions Company Profile

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.