Canal Insurance CO Has $4.08 Million Stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Canal Insurance CO reduced its position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,000 shares of the aerospace company's stock after selling 25,250 shares during the period. Canal Insurance CO owned approximately 0.12% of Kratos Defense & Security Solutions worth $4,078,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sei Investments Co. raised its holdings in Kratos Defense & Security Solutions by 113.1% in the first quarter. Sei Investments Co. now owns 311,594 shares of the aerospace company's stock valued at $5,727,000 after acquiring an additional 165,356 shares in the last quarter. Comerica Bank lifted its stake in Kratos Defense & Security Solutions by 627.9% during the first quarter. Comerica Bank now owns 49,636 shares of the aerospace company's stock worth $912,000 after purchasing an additional 42,817 shares during the last quarter. Swiss National Bank boosted its holdings in Kratos Defense & Security Solutions by 13.2% in the first quarter. Swiss National Bank now owns 287,600 shares of the aerospace company's stock worth $5,286,000 after purchasing an additional 33,500 shares during the period. Vanguard Group Inc. increased its stake in Kratos Defense & Security Solutions by 14.9% during the first quarter. Vanguard Group Inc. now owns 13,972,406 shares of the aerospace company's stock valued at $256,813,000 after purchasing an additional 1,807,580 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Kratos Defense & Security Solutions by 272.8% during the second quarter. Assenagon Asset Management S.A. now owns 432,526 shares of the aerospace company's stock valued at $8,655,000 after purchasing an additional 316,500 shares during the last quarter. 75.92% of the stock is currently owned by institutional investors and hedge funds.

Kratos Defense & Security Solutions Stock Up 4.7 %

Shares of KTOS traded up $1.08 during mid-day trading on Wednesday, reaching $24.27. The company's stock had a trading volume of 1,614,538 shares, compared to its average volume of 1,118,381. The company has a quick ratio of 2.56, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. Kratos Defense & Security Solutions, Inc. has a 1 year low of $16.71 and a 1 year high of $25.91. The business has a fifty day moving average of $23.51 and a 200 day moving average of $21.59. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 331.29 and a beta of 1.02.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $300.10 million for the quarter, compared to analyst estimates of $276.08 million. Kratos Defense & Security Solutions had a net margin of 0.89% and a return on equity of 3.92%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KTOS has been the subject of several research reports. Truist Financial reaffirmed a "buy" rating and issued a $27.00 price target (up from $25.00) on shares of Kratos Defense & Security Solutions in a report on Thursday, September 26th. Robert W. Baird upped their price objective on shares of Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Kratos Defense & Security Solutions in a research note on Tuesday, October 1st. B. Riley downgraded Kratos Defense & Security Solutions from a "buy" rating to a "neutral" rating and upped their target price for the stock from $24.00 to $26.00 in a research report on Wednesday, October 30th. Finally, Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Kratos Defense & Security Solutions in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.10.

Insider Buying and Selling

In related news, 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 transaction of $27,194.85. Following the transaction, the senior vice president now owns 63,393 shares of the company's stock, valued at approximately $1,272,297.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kratos Defense & Security Solutions news, SVP Marie Mendoza sold 1,355 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $20.07, for a total transaction of $27,194.85. Following the transaction, the senior vice president now directly owns 63,393 shares in the company, valued at $1,272,297.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Deanna H. Lund sold 6,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $22.41, for a total value of $134,460.00. Following the sale, the chief financial officer now owns 285,905 shares of the company's stock, valued at approximately $6,407,131.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,091 shares of company stock worth $1,739,101. Corporate insiders own 2.27% of the company's stock.

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.