Wealth Quarterback LLC has reduced its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 8.1% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), Wealth Quarterback LLC now owns 11,302 shares of the aerospace and defense company after selling 997 shares. The value of these holdings was approximately $525,000 at the end of the quarter.
This adjustment comes as several other institutional investors have also modified their positions in Kratos. For instance, Costello Asset Management bought a new stake worth around $29,000 during the first quarter, while Larson Financial Group LLC acquired shares valued at $30,000. Twin Tree Management LP and Banque Cantonale Vaudoise also entered the fray, investing $37,000 and $38,000, respectively. Additionally, NewEdge Advisors LLC increased its stake by 64.4%, bringing its total to 1,315 shares valued at approximately $39,000. Currently, institutional investors and hedge funds own approximately 75.92% of Kratos’ stock.
Analysts Offer Positive Outlook for Kratos
Several analysts have recently issued positive reports regarding Kratos Defense & Security Solutions. Truist Financial raised its price target from $78.00 to $125.00 while maintaining a “buy” rating. Similarly, JMP Securities upgraded its target from $70.00 to $105.00, also rating the stock as a “market outperform.” Stifel Nicolaus echoed this sentiment, increasing its target to $112.00 and issuing a “buy” rating.
As of now, one analyst has rated the stock as a Strong Buy, twelve have assigned a Buy rating, and four analysts have opted for a Hold rating. Based on data from MarketBeat.com, Kratos Defense & Security Solutions has a consensus rating of “Moderate Buy” with an average price target of $82.36.
Stock Performance and Financial Results
On November 4, 2023, Kratos Defense & Security Solutions reported its quarterly earnings, revealing earnings per share (EPS) of $0.14, surpassing analysts’ expectations of $0.12. The firm recorded revenue of $347.60 million, exceeding the consensus estimate of $323.01 million. This marks a 26.0% increase in revenue compared to the same quarter the previous year, when the company earned $0.11 per share.
As of now, shares of KTOS opened at $76.59. The stock has experienced a 52-week low of $23.90 and a high of $112.57, with a market capitalization of $12.93 billion. The firm’s price-to-earnings ratio stands at 765.98, with a beta of 1.11.
In terms of company stability, Kratos has a debt-to-equity ratio of 0.12, a quick ratio of 3.88, and a current ratio of 4.43. Looking ahead, analysts expect the company to post an EPS of $0.31 for the current fiscal year.
Recent insider trading activity includes sales by Thomas E. Iv Mills, who sold 5,758 shares for approximately $377,379.32, and VP De Burgreen Maria Cervantes, who sold 6,264 shares for around $437,227.20. Over the past three months, insiders have sold a total of 90,716 shares valued at $7,152,105, representing 2.37% ownership by insiders.
Kratos Defense & Security Solutions specializes in providing mission-critical products, services, and solutions for U.S. national security priorities. The company operates through its Kratos Government Solutions and Unmanned Systems segments, which include a wide range of offerings from microwave electronic products to cyber solutions.
For those interested in the latest updates, HoldingsChannel.com offers insights into hedge fund activities and 13F filings related to Kratos Defense & Security Solutions, Inc.
