State of New Jersey Common Pension Fund D Lowers Stock Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

State of New Jersey Common Pension Fund D lessened its position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 42.2% in the second quarter, Holdings Channel.com reports. The fund owned 86,787 shares of the aerospace company’s stock after selling 63,435 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kratos Defense & Security Solutions were worth $1,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KTOS. Sei Investments Co. raised its holdings in shares of Kratos Defense & Security Solutions by 113.1% during the 1st quarter. Sei Investments Co. now owns 311,594 shares of the aerospace company’s stock valued at $5,727,000 after buying an additional 165,356 shares during the period. Comerica Bank grew its stake in Kratos Defense & Security Solutions by 627.9% in the first quarter. Comerica Bank now owns 49,636 shares of the aerospace company’s stock worth $912,000 after purchasing an additional 42,817 shares in the last quarter. Swiss National Bank lifted its holdings in Kratos Defense & Security Solutions by 13.2% during the 1st quarter. Swiss National Bank now owns 287,600 shares of the aerospace company’s stock worth $5,286,000 after buying an additional 33,500 shares during the last quarter. Vanguard Group Inc. raised its stake in Kratos Defense & Security Solutions by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 12,164,826 shares of the aerospace company’s stock worth $246,824,000 after acquiring an additional 229,472 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Kratos Defense & Security Solutions by 272.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 432,526 shares of the aerospace company’s stock worth $8,655,000 after purchasing an additional 316,500 shares during the period. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Kratos Defense & Security Solutions news, CFO Deanna H. Lund sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.00, for a total transaction of $120,000.00. Following the completion of the transaction, the chief financial officer now directly owns 298,016 shares of the company’s stock, valued at $5,960,320. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Marie Mendoza sold 1,355 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $20.07, for a total transaction of $27,194.85. Following the transaction, the senior vice president now owns 63,393 shares of the company’s stock, valued at $1,272,297.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Deanna H. Lund sold 6,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.00, for a total transaction of $120,000.00. Following the transaction, the chief financial officer now owns 298,016 shares in the company, valued at $5,960,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,210 shares of company stock worth $1,505,072. Corporate insiders own 2.27% of the company’s stock.

Kratos Defense & Security Solutions Trading Down 1.4 %

Shares of KTOS stock opened at $23.22 on Wednesday. Kratos Defense & Security Solutions, Inc. has a 12 month low of $13.98 and a 12 month high of $24.08. The business’s 50 day moving average is $21.71 and its two-hundred day moving average is $20.23. The company has a market cap of $3.49 billion, a PE ratio of 70.09 and a beta of 1.02. The company has a quick ratio of 2.56, a current ratio of 3.13 and a debt-to-equity ratio of 0.14.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last announced its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $300.10 million during the quarter, compared to the consensus estimate of $276.08 million. Kratos Defense & Security Solutions had a return on equity of 3.92% and a net margin of 0.89%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Equities analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. Robert W. Baird raised their price objective on shares of Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday. BTIG Research began coverage on Kratos Defense & Security Solutions in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. JMP Securities assumed coverage on shares of Kratos Defense & Security Solutions in a report on Tuesday, May 28th. They set a “market outperform” rating and a $27.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Kratos Defense & Security Solutions from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.78.

Kratos Defense & Security Solutions Profile

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.