330,898 Shares in Karman Holdings Inc. $KRMN Purchased by Congress Asset Management Co.

Congress Asset Management Co. acquired a new stake in shares of Karman Holdings Inc. (NYSE:KRMN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 330,898 shares of the company’s stock, valued at approximately $24,212,000. Congress Asset Management Co. owned about 0.25% of Karman as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lexington Partners L.P. purchased a new position in Karman during the 3rd quarter worth $319,861,000. Vanguard Group Inc. boosted its holdings in shares of Karman by 99.0% in the third quarter. Vanguard Group Inc. now owns 3,720,674 shares of the company’s stock valued at $268,633,000 after acquiring an additional 1,851,394 shares in the last quarter. Donaldson Capital Management LLC acquired a new position in shares of Karman during the third quarter worth about $252,803,000. Invesco Ltd. increased its stake in shares of Karman by 68.6% during the third quarter. Invesco Ltd. now owns 3,211,187 shares of the company’s stock worth $231,848,000 after acquiring an additional 1,306,135 shares during the period. Finally, Bamco Inc. NY raised its holdings in Karman by 0.6% during the second quarter. Bamco Inc. NY now owns 2,415,134 shares of the company’s stock worth $121,650,000 after purchasing an additional 14,486 shares in the last quarter.

Karman Trading Down 0.2%

Shares of KRMN stock opened at $102.18 on Wednesday. The firm has a 50-day moving average price of $97.54 and a 200 day moving average price of $81.84. Karman Holdings Inc. has a twelve month low of $25.02 and a twelve month high of $118.38. The company has a market capitalization of $13.52 billion and a price-to-earnings ratio of 408.70. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Karman from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, March 20th. Truist Financial set a $118.00 price target on Karman in a research note on Friday, January 9th. Citigroup reaffirmed a “buy” rating on shares of Karman in a report on Thursday, February 19th. Needham & Company LLC initiated coverage on Karman in a research report on Friday, March 13th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Piper Sandler raised Karman from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $127.00 in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Karman has a consensus rating of “Moderate Buy” and a consensus price target of $116.90.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.