Geode Capital Management LLC Increases Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Geode Capital Management LLC raised its stake in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,556,544 shares of the aerospace company’s stock after acquiring an additional 29,278 shares during the quarter. Geode Capital Management LLC’s holdings in Kratos Defense & Security Solutions were worth $82,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. SG Americas Securities LLC boosted its stake in Kratos Defense & Security Solutions by 48.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,913 shares of the aerospace company’s stock worth $258,000 after purchasing an additional 4,210 shares during the last quarter. Raymond James & Associates raised its holdings in Kratos Defense & Security Solutions by 50.8% in the 2nd quarter. Raymond James & Associates now owns 414,051 shares of the aerospace company’s stock valued at $8,285,000 after buying an additional 139,539 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Kratos Defense & Security Solutions by 47.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,161 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 6,802 shares during the last quarter. EFG Asset Management North America Corp. acquired a new position in Kratos Defense & Security Solutions during the second quarter worth $1,486,000. Finally, Arkadios Wealth Advisors lifted its stake in Kratos Defense & Security Solutions by 0.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 55,630 shares of the aerospace company’s stock worth $1,113,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Benjamin M. Goodwin sold 5,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $27.71, for a total transaction of $138,550.00. Following the transaction, the senior vice president now directly owns 37,327 shares in the company, valued at approximately $1,034,331.17. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Deanna H. Lund sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $23.68, for a total transaction of $142,080.00. Following the transaction, the chief financial officer now directly owns 279,775 shares of the company’s stock, valued at $6,625,072. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,781 shares of company stock worth $2,027,665 in the last ninety days. Insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KTOS shares. JMP Securities boosted their price target on shares of Kratos Defense & Security Solutions from $27.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Monday, November 11th. Jefferies Financial Group lifted their price objective on shares of Kratos Defense & Security Solutions from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Truist Financial reissued a “buy” rating and issued a $27.00 target price (up previously from $25.00) on shares of Kratos Defense & Security Solutions in a report on Thursday, September 26th. B. Riley cut Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and raised their price target for the company from $24.00 to $26.00 in a research note on Wednesday, October 30th. Finally, Robert W. Baird upped their price objective on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Kratos Defense & Security Solutions Price Performance

Shares of NASDAQ:KTOS opened at $25.60 on Friday. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 256.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.22 and a quick ratio of 2.61. The business’s 50 day simple moving average is $25.65 and its 200-day simple moving average is $23.04. Kratos Defense & Security Solutions, Inc. has a 12 month low of $16.71 and a 12 month high of $28.71.

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.