State of New Jersey Common Pension Fund D Sells 63,435 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

State of New Jersey Common Pension Fund D trimmed its position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 42.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,787 shares of the aerospace company’s stock after selling 63,435 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Kratos Defense & Security Solutions worth $1,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its holdings in Kratos Defense & Security Solutions by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 110,530 shares of the aerospace company’s stock valued at $2,212,000 after purchasing an additional 4,488 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Kratos Defense & Security Solutions in the second quarter worth about $418,000. Arizona State Retirement System boosted its stake in shares of Kratos Defense & Security Solutions by 4.9% during the 2nd quarter. Arizona State Retirement System now owns 41,976 shares of the aerospace company’s stock worth $840,000 after acquiring an additional 1,960 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of Kratos Defense & Security Solutions by 5.7% in the 2nd quarter. Hodges Capital Management Inc. now owns 391,022 shares of the aerospace company’s stock valued at $7,824,000 after purchasing an additional 21,022 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Kratos Defense & Security Solutions by 0.5% during the second quarter. Rhumbline Advisers now owns 230,059 shares of the aerospace company’s stock worth $4,603,000 after purchasing an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Wall Street Analyst Weigh In

KTOS has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. BTIG Research assumed coverage on shares of Kratos Defense & Security Solutions in a research note on Wednesday, June 26th. They issued a “neutral” rating on the stock. Royal Bank of Canada boosted their price objective on Kratos Defense & Security Solutions from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. lifted their price target on Kratos Defense & Security Solutions from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, JMP Securities assumed coverage on Kratos Defense & Security Solutions in a report on Tuesday, May 28th. They issued a “market outperform” rating and a $27.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kratos Defense & Security Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $24.78.

Insider Transactions at Kratos Defense & Security Solutions

In related news, SVP Marie Mendoza sold 1,355 shares of Kratos Defense & Security Solutions stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $20.07, for a total transaction of $27,194.85. Following the sale, the senior vice president now directly owns 63,393 shares in the company, valued at approximately $1,272,297.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kratos Defense & Security Solutions news, CFO Deanna H. Lund sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.00, for a total value of $120,000.00. Following the sale, the chief financial officer now owns 298,016 shares of the company’s stock, valued at approximately $5,960,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie Mendoza sold 1,355 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $20.07, for a total value of $27,194.85. Following the completion of the sale, the senior vice president now directly owns 63,393 shares of the company’s stock, valued at $1,272,297.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,210 shares of company stock valued at $1,505,072. 2.27% of the stock is currently owned by corporate insiders.

Kratos Defense & Security Solutions Stock Performance

Shares of Kratos Defense & Security Solutions stock opened at $23.22 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 2.56. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 70.09 and a beta of 1.02. The business has a 50-day moving average of $21.71 and a 200 day moving average of $20.23. Kratos Defense & Security Solutions, Inc. has a 12 month low of $13.98 and a 12 month high of $24.08.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last released its earnings results on Wednesday, August 7th. The aerospace company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Kratos Defense & Security Solutions had a return on equity of 3.92% and a net margin of 0.89%. The firm had revenue of $300.10 million during the quarter, compared to analysts’ expectations of $276.08 million. During the same period in the previous year, the firm posted $0.05 EPS. Kratos Defense & Security Solutions’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current year.

Kratos Defense & Security Solutions Profile

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.