First Trust Advisors LP Buys 1,809,284 Shares of Karman Holdings Inc. $KRMN

First Trust Advisors LP grew its position in shares of Karman Holdings Inc. (NYSE:KRMN) by 2,745.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,875,197 shares of the company’s stock after purchasing an additional 1,809,284 shares during the period. First Trust Advisors LP owned approximately 1.42% of Karman worth $135,389,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Robert Wood Johnson Foundation bought a new position in Karman during the third quarter valued at approximately $70,488,000. Federated Hermes Inc. bought a new stake in Karman in the 3rd quarter worth approximately $2,055,000. TimesSquare Capital Management LLC raised its holdings in shares of Karman by 361.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,546,905 shares of the company’s stock worth $111,687,000 after acquiring an additional 1,211,845 shares in the last quarter. Huntleigh Advisors Inc. purchased a new stake in shares of Karman during the 3rd quarter worth approximately $2,466,000. Finally, King Luther Capital Management Corp bought a new position in shares of Karman during the 2nd quarter valued at approximately $2,363,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. KeyCorp increased their price objective on shares of Karman from $80.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Piper Sandler upgraded shares of Karman from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $127.00 in a report on Friday. Raymond James Financial restated a “strong-buy” rating and set a $130.00 target price on shares of Karman in a research report on Thursday, January 22nd. Finally, Truist Financial set a $118.00 price target on shares of Karman in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.56.

Karman Stock Performance

NYSE KRMN opened at $100.60 on Monday. The business’s 50 day moving average price is $94.16 and its 200-day moving average price is $77.76. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $118.38. The company has a market cap of $13.31 billion and a P/E ratio of 402.40. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86.

Karman Company Profile

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.