Sumitomo Mitsui Trust Group Inc. Sells 244,405 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,362,467 shares of the aerospace company’s stock after selling 244,405 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kratos Defense & Security Solutions were worth $55,045,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. GSA Capital Partners LLP bought a new stake in shares of Kratos Defense & Security Solutions during the 3rd quarter valued at $607,000. Lisanti Capital Growth LLC increased its holdings in Kratos Defense & Security Solutions by 318.1% in the third quarter. Lisanti Capital Growth LLC now owns 221,085 shares of the aerospace company’s stock valued at $5,151,000 after purchasing an additional 168,205 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Kratos Defense & Security Solutions by 1.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 87,847 shares of the aerospace company’s stock valued at $2,047,000 after purchasing an additional 1,060 shares during the last quarter. Wealth Quarterback LLC lifted its stake in Kratos Defense & Security Solutions by 3.9% in the third quarter. Wealth Quarterback LLC now owns 13,998 shares of the aerospace company’s stock valued at $326,000 after buying an additional 528 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its holdings in Kratos Defense & Security Solutions by 4.6% during the third quarter. Catalyst Capital Advisors LLC now owns 68,840 shares of the aerospace company’s stock worth $1,604,000 after buying an additional 3,000 shares during the last quarter. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kratos Defense & Security Solutions

In related news, SVP Marie Mendoza sold 1,355 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $22.12, for a total transaction of $29,972.60. Following the completion of the transaction, the senior vice president now directly owns 61,963 shares of the company’s stock, valued at approximately $1,370,621.56. This represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric M. Demarco purchased 11,980 shares of the stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $20.89 per share, for a total transaction of $250,262.20. Following the transaction, the chief executive officer now directly owns 1,070,244 shares in the company, valued at approximately $22,357,397.16. The trade was a 1.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 71,620 shares of company stock valued at $1,700,220 in the last ninety days. 2.27% of the stock is currently owned by corporate insiders.

Kratos Defense & Security Solutions Stock Down 3.4 %

Shares of Kratos Defense & Security Solutions stock opened at $24.42 on Friday. The firm has a market cap of $3.69 billion, a PE ratio of 244.22 and a beta of 1.02. The business’s 50 day simple moving average is $24.00 and its 200 day simple moving average is $21.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.61 and a current ratio of 3.22. Kratos Defense & Security Solutions, Inc. has a 52-week low of $16.71 and a 52-week high of $28.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KTOS. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Kratos Defense & Security Solutions in a research note on Friday, September 13th. B. Riley lowered shares of Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and increased their target price for the stock from $24.00 to $26.00 in a report on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of Kratos Defense & Security Solutions in a report on Thursday, September 26th. JMP Securities raised their price objective on Kratos Defense & Security Solutions from $27.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird boosted their target price on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.40.

Kratos Defense & Security Solutions Company 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.