Norges Bank Invests $8.81 Million in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Norges Bank purchased a new position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 434,046 shares of the aerospace company's stock, valued at approximately $8,807,000. Norges Bank owned 0.34% of Kratos Defense & Security Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Kratos Defense & Security Solutions by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 36,332 shares of the aerospace company's stock worth $546,000 after purchasing an additional 751 shares during the last quarter. Barclays PLC boosted its holdings in Kratos Defense & Security Solutions by 258.6% during the third quarter. Barclays PLC now owns 171,668 shares of the aerospace company's stock worth $2,578,000 after buying an additional 123,792 shares during the last quarter. Swiss National Bank grew its position in shares of Kratos Defense & Security Solutions by 1.7% during the 3rd quarter. Swiss National Bank now owns 280,500 shares of the aerospace company's stock worth $4,213,000 after buying an additional 4,700 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Kratos Defense & Security Solutions by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,291,382 shares of the aerospace company's stock valued at $19,397,000 after acquiring an additional 41,419 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Kratos Defense & Security Solutions by 73.1% in the 3rd quarter. Van ECK Associates Corp now owns 50,013 shares of the aerospace company's stock valued at $751,000 after acquiring an additional 21,117 shares during the period. 75.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KTOS has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Kratos Defense & Security Solutions from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 28th. JMP Securities initiated coverage on shares of Kratos Defense & Security Solutions in a report on Tuesday, May 28th. They issued a "market outperform" rating and a $27.00 price target for the company. Royal Bank of Canada raised 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. Jefferies Financial Group reduced their target price on Kratos Defense & Security Solutions from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, April 10th. Finally, Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Kratos Defense & Security Solutions in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Insider Activity at Kratos Defense & Security Solutions

In other news, insider Phillip D. Carrai sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $17.40, for a total value of $60,900.00. Following the completion of the sale, the insider now directly owns 292,944 shares of the company's stock, valued at $5,097,225.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Phillip D. Carrai sold 3,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $17.40, for a total value of $60,900.00. Following the transaction, the insider now directly owns 292,944 shares of the company's stock, valued at $5,097,225.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven S. Fendley sold 7,000 shares of Kratos Defense & Security Solutions stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $17.80, for a total transaction of $124,600.00. Following the sale, the insider now directly owns 419,821 shares of the company's stock, valued at approximately $7,472,813.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,258 shares of company stock worth $3,447,255. Insiders own 2.27% of the company's stock.

Kratos Defense & Security Solutions Stock Down 2.3 %

KTOS traded down $0.50 during trading hours on Thursday, hitting $20.80. 561,151 shares of the company's stock were exchanged, compared to its average volume of 1,259,400. The company has a quick ratio of 2.47, a current ratio of 3.02 and a debt-to-equity ratio of 0.14. Kratos Defense & Security Solutions, Inc. has a 1-year low of $13.13 and a 1-year high of $22.77. The stock's 50-day moving average is $19.32 and its two-hundred day moving average is $19.01. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 81.15 and a beta of 1.05.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last released its earnings results on Tuesday, May 7th. The aerospace company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. Kratos Defense & Security Solutions had a positive return on equity of 3.43% and a negative net margin of 0.06%. The business had revenue of $277.20 million for the quarter, compared to the consensus estimate of $250.48 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. Kratos Defense & Security Solutions's quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.3 earnings per share for the current fiscal year.

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.