Cresset Asset Management LLC has reduced its stake in Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) by 26.9%, according to a recent 13F filing with the Securities and Exchange Commission. The asset management firm now holds 13,005 shares of the aerospace company’s stock, valued at approximately $386,000 following the sale of 4,797 shares during the first quarter.
The move reflects a broader trend among institutional investors, many of whom have recently adjusted their positions in Kratos. For instance, CANADA LIFE ASSURANCE Co increased its holdings in the company by 11.5% in the fourth quarter, owning 17,431 shares worth $459,000 after acquiring an additional 1,791 shares.
Similarly, MetLife Investment Management LLC raised its stake in Kratos by 4.6%, bringing its total to 89,329 shares, valued at $2,356,000. Stifel Financial Corp also expanded its position by 17.5%, now holding 295,980 shares, worth $7,808,000.
In a significant move, Voya Investment Management LLC boosted its stake by an impressive 435.3%, acquiring 943,638 shares valued at $24,893,000 after adding 767,345 shares during the same period. Overall, institutional investors and hedge funds own approximately 75.92% of Kratos Defense & Security Solutions.
Stock Performance and Earnings Report
As of August 7, 2023, shares of Kratos Defense opened at $66.71, having experienced significant fluctuations over the past year, with a low of $20.83 and a high of $72.70. The stock’s fifty-day simple moving average stands at $54.16, while the two-hundred-day average is $40.04.
Kratos recently reported its quarterly earnings, indicating a net margin of 1.20% and a return on equity of 3.10%. The company achieved revenue of $351.5 million, surpassing analysts’ expectations of $305.67 million. Earnings per share reached $0.11, exceeding consensus estimates of $0.09.
Looking forward, analysts expect Kratos to post earnings of $0.31 per share for the current year. The company has set guidance for fiscal year 2025 and third-quarter 2025 earnings, although specific figures have not yet been disclosed.
Analyst Ratings and Insider Trading Activity
Recent analyst reports have also influenced sentiment around Kratos stock. JPMorgan Chase & Co. raised its price target from $44.00 to $48.00, maintaining a “neutral” rating. Canaccord Genuity Group set a more optimistic price objective of $74.00 with a “buy” rating. Further bullish sentiments came from Truist Financial, which raised its target from $38.00 to $52.00, and Royal Bank of Canada, which increased its target from $50.00 to $65.00 while issuing an “outperform” rating.
As of now, one analyst has rated the stock as a Strong Buy, thirteen have assigned it a Buy rating, and two have issued a Hold. The consensus rating stands at “Moderate Buy” with a price target of $57.64.
In insider trading news, Chief Financial Officer Deanna H. Lund sold 5,000 shares on August 19 at an average price of $65.10, totaling $325,500. Following this transaction, Lund held 313,327 shares valued at approximately $20.4 million. Additionally, insider Phillip D. Carrai sold 6,000 shares on August 15, bringing in $406,680.
Insider sales totaled 82,986 shares worth $3,946,088 in the last quarter, with company insiders owning around 2.37% of the company’s stock.
Kratos Defense & Security Solutions, Inc., headquartered in the United States, provides mission-critical products and solutions focused on national security. Its operations are divided into segments including Government Solutions and Unmanned Systems, with a strong emphasis on innovation and technology in the aerospace sector.
For further insights on Kratos Defense & Security Solutions, visit their official site or explore analytical resources for the latest developments.
