Lord Abbett & CO. LLC Boosts Stock Holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Lord Abbett & CO. LLC boosted its position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 665,285 shares of the aerospace company’s stock after purchasing an additional 86,567 shares during the quarter. Lord Abbett & CO. LLC owned about 0.44% of Kratos Defense & Security Solutions worth $15,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KTOS. Van ECK Associates Corp lifted its position in Kratos Defense & Security Solutions by 101.9% during the second quarter. Van ECK Associates Corp now owns 744,100 shares of the aerospace company’s stock worth $14,889,000 after buying an additional 375,608 shares in the last quarter. Assenagon Asset Management S.A. increased its position 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 worth $8,655,000 after purchasing an additional 316,500 shares during the last quarter. American Capital Management Inc. increased its position in Kratos Defense & Security Solutions by 12.8% during the third quarter. American Capital Management Inc. now owns 2,694,948 shares of the aerospace company’s stock worth $62,792,000 after purchasing an additional 305,925 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Kratos Defense & Security Solutions by 12.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,798,859 shares of the aerospace company’s stock worth $70,951,000 after buying an additional 304,088 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Kratos Defense & Security Solutions during the 3rd quarter worth approximately $6,310,000. Institutional investors and hedge funds own 75.92% of the company’s stock.

Kratos Defense & Security Solutions Price Performance

Shares of NASDAQ KTOS opened at $26.84 on Monday. The stock has a 50 day moving average of $25.51 and a two-hundred day moving average of $22.91. Kratos Defense & Security Solutions, Inc. has a twelve month low of $16.71 and a twelve month high of $28.62. The stock has a market cap of $4.05 billion, a P/E ratio of 268.40 and a beta of 1.07. The company has a current ratio of 3.22, a quick ratio of 2.61 and a debt-to-equity ratio of 0.13.

Insider Transactions at Kratos Defense & Security Solutions

In other Kratos Defense & Security Solutions news, insider Steven S. Fendley sold 7,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.37, for a total value of $163,590.00. Following the transaction, the insider now directly owns 363,417 shares of the company’s stock, valued at approximately $8,493,055.29. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie Mendoza sold 1,355 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $24.96, for a total transaction of $33,820.80. Following the transaction, the senior vice president now directly owns 58,085 shares of the company’s stock, valued at $1,449,801.60. This represents a 2.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,765 shares of company stock worth $1,663,507. Company insiders own 2.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. B. Riley lowered Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and upped their price target for the company from $24.00 to $26.00 in a research note on Wednesday, October 30th. JMP Securities lifted their price target on shares of Kratos Defense & Security Solutions from $27.00 to $30.00 and gave the company a “market outperform” rating in a research report on Monday, November 11th. Truist Financial restated a “buy” rating and set a $27.00 price target (up from $25.00) on shares of Kratos Defense & Security Solutions in a research note on Thursday, September 26th. Jefferies Financial Group raised their target price on Kratos Defense & Security Solutions from $25.00 to $30.00 and gave the company a “hold” rating in a report on Friday. Finally, Benchmark restated a “buy” rating and issued a $25.00 price objective on shares of Kratos Defense & Security Solutions in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kratos Defense & Security Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

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.