Norges Bank Invests $5.74 Million in Kratos Defense & Security Solutions, Inc. $KTOS

Norges Bank bought a new stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 123,536 shares of the aerospace company’s stock, valued at approximately $5,738,000. Norges Bank owned 0.07% of Kratos Defense & Security Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new stake in Kratos Defense & Security Solutions in the 2nd quarter valued at about $30,000. Farther Finance Advisors LLC increased its holdings in shares of Kratos Defense & Security Solutions by 129.0% during the second quarter. Farther Finance Advisors LLC now owns 893 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 503 shares during the period. Twin Tree Management LP acquired a new stake in shares of Kratos Defense & Security Solutions in the first quarter valued at approximately $37,000. Byrne Asset Management LLC acquired a new stake in shares of Kratos Defense & Security Solutions in the second quarter valued at approximately $59,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Kratos Defense & Security Solutions by 64.4% in the first quarter. NewEdge Advisors LLC now owns 1,315 shares of the aerospace company’s stock valued at $39,000 after buying an additional 515 shares during the period. 75.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Eric M. Demarco sold 200,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $74.09, for a total transaction of $14,818,000.00. Following the sale, the chief executive officer directly owned 1,196,237 shares of the company’s stock, valued at approximately $88,629,199.33. The trade was a 14.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David M. Carter sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $76.30, for a total transaction of $305,200.00. Following the transaction, the insider owned 85,809 shares of the company’s stock, valued at approximately $6,547,226.70. This represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 452,866 shares of company stock worth $34,163,948 in the last quarter. Corporate insiders own 2.37% of the company’s stock.

Analyst Ratings Changes

KTOS has been the topic of a number of recent research reports. Truist Financial raised their price objective on Kratos Defense & Security Solutions from $78.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price on shares of Kratos Defense & Security Solutions in a report on Thursday, November 6th. BNP Paribas Exane assumed coverage on Kratos Defense & Security Solutions in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $80.00 price target on the stock. B. Riley cut shares of Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $105.00 in a research report on Wednesday, October 8th. Finally, Noble Financial reiterated an “outperform” rating on shares of Kratos Defense & Security Solutions in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Kratos Defense & Security Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Kratos Defense & Security Solutions Price Performance

Kratos Defense & Security Solutions stock opened at $77.03 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.68 and a current ratio of 4.30. Kratos Defense & Security Solutions, Inc. has a 52 week low of $23.90 and a 52 week high of $112.57. The stock has a market capitalization of $13.01 billion, a P/E ratio of 592.58 and a beta of 1.14. The stock has a fifty day moving average of $83.37 and a 200-day moving average of $66.45.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last released its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Kratos Defense & Security Solutions had a return on equity of 3.14% and a net margin of 1.56%.The business had revenue of $347.60 million for the quarter, compared to analyst estimates of $323.01 million. During the same period last year, the firm posted $0.11 earnings per share. Kratos Defense & Security Solutions’s revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

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.