CIBC Asset Management Inc Sells 4,560 Shares of Kratos Defense & Security Solutions, Inc. $KTOS

CIBC Asset Management Inc cut its holdings in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 48.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,831 shares of the aerospace company’s stock after selling 4,560 shares during the period. CIBC Asset Management Inc’s holdings in Kratos Defense & Security Solutions were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. CWM LLC grew its stake in shares of Kratos Defense & Security Solutions by 3.8% in the second quarter. CWM LLC now owns 4,722 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 171 shares during the period. Red Mountain Financial LLC boosted its holdings in Kratos Defense & Security Solutions by 1.9% in the second quarter. Red Mountain Financial LLC now owns 10,500 shares of the aerospace company’s stock worth $488,000 after purchasing an additional 200 shares during the last quarter. NewEdge Advisors LLC grew its position in Kratos Defense & Security Solutions by 15.2% in the 2nd quarter. NewEdge Advisors LLC now owns 1,515 shares of the aerospace company’s stock worth $70,000 after purchasing an additional 200 shares during the period. USA Financial Formulas raised its stake in Kratos Defense & Security Solutions by 15.7% during the 3rd quarter. USA Financial Formulas now owns 1,660 shares of the aerospace company’s stock valued at $152,000 after buying an additional 225 shares during the last quarter. Finally, MRP Capital Investments LLC lifted its holdings in shares of Kratos Defense & Security Solutions by 11.1% during the 2nd quarter. MRP Capital Investments LLC now owns 2,500 shares of the aerospace company’s stock valued at $116,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Trading Down 4.6%

Shares of NASDAQ:KTOS opened at $112.67 on Thursday. Kratos Defense & Security Solutions, Inc. has a 12-month low of $23.90 and a 12-month high of $134.00. The company has a market cap of $19.02 billion, a PE ratio of 866.76 and a beta of 1.09. The stock has a 50 day moving average of $89.42 and a 200 day moving average of $79.73. The company has a current ratio of 4.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last posted its quarterly earnings results on Tuesday, November 4th. The aerospace company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $347.60 million during the quarter, compared to analyst estimates of $323.01 million. Kratos Defense & Security Solutions had a net margin of 1.56% and a return on equity of 3.14%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Phillip D. Carrai sold 6,500 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $123.30, for a total transaction of $801,450.00. Following the sale, the insider owned 219,741 shares of the company’s stock, valued at approximately $27,094,065.30. This trade represents a 2.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven S. Fendley sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $107.97, for a total value of $755,790.00. Following the completion of the transaction, the insider directly owned 341,631 shares in the company, valued at approximately $36,885,899.07. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 911,815 shares of company stock worth $74,343,531 in the last three months. 2.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KTOS has been the subject of several research analyst reports. Jones Trading initiated coverage on Kratos Defense & Security Solutions in a report on Monday, January 5th. They issued a “buy” rating for the company. BTIG Research boosted their price target on Kratos Defense & Security Solutions from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Citigroup reiterated a “market outperform” rating on shares of Kratos Defense & Security Solutions in a research note on Monday, January 12th. JMP Securities boosted their target price on shares of Kratos Defense & Security Solutions from $70.00 to $105.00 and gave the company a “market outperform” rating in a research report on Thursday, October 2nd. Finally, Citizens Jmp upped their target price on shares of Kratos Defense & Security Solutions from $105.00 to $125.00 and gave the company a “market outperform” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Kratos Defense & Security Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $95.28.

Kratos Defense & Security Solutions 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.