Bank of America Corp DE Trims Stake in Kratos Defense & Security Solutions, Inc (KTOS)

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Bank of America Corp DE trimmed its holdings in shares of Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,157 shares of the aerospace company’s stock after selling 11,632 shares during the quarter. Bank of America Corp DE’s holdings in Kratos Defense & Security Solutions were worth $1,797,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KTOS. Campbell & CO Investment Adviser LLC purchased a new position in Kratos Defense & Security Solutions during the second quarter valued at approximately $196,000. Royal Bank of Canada increased its holdings in Kratos Defense & Security Solutions by 119.3% during the first quarter. Royal Bank of Canada now owns 20,425 shares of the aerospace company’s stock valued at $210,000 after buying an additional 11,112 shares during the period. LPL Financial LLC increased its holdings in Kratos Defense & Security Solutions by 35.9% during the first quarter. LPL Financial LLC now owns 21,237 shares of the aerospace company’s stock valued at $219,000 after buying an additional 5,607 shares during the period. Sei Investments Co. increased its holdings in Kratos Defense & Security Solutions by 4,596.4% during the second quarter. Sei Investments Co. now owns 19,443 shares of the aerospace company’s stock valued at $224,000 after buying an additional 19,029 shares during the period. Finally, Cornerstone Wealth Management LLC purchased a new position in Kratos Defense & Security Solutions during the second quarter valued at approximately $476,000. 90.75% of the stock is currently owned by institutional investors.

NASDAQ KTOS opened at $15.54 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.59 and a current ratio of 2.89. Kratos Defense & Security Solutions, Inc has a 12-month low of $8.90 and a 12-month high of $16.09. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 388.50, a PEG ratio of 17.36 and a beta of 2.34.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last released its quarterly earnings results on Tuesday, November 6th. The aerospace company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.05. Kratos Defense & Security Solutions had a negative net margin of 4.64% and a positive return on equity of 3.99%. The business had revenue of $159.40 million for the quarter, compared to analyst estimates of $157.65 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Kratos Defense & Security Solutions, Inc will post 0.12 EPS for the current year.

Several equities analysts recently issued reports on KTOS shares. BidaskClub raised shares of Kratos Defense & Security Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Kratos Defense & Security Solutions from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. B. Riley reissued a “buy” rating on shares of Kratos Defense & Security Solutions in a report on Wednesday. Noble Financial reissued a “buy” rating and set a $20.00 price objective on shares of Kratos Defense & Security Solutions in a report on Friday, August 3rd. Finally, ValuEngine raised shares of Kratos Defense & Security Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Four 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. The company currently has a consensus rating of “Buy” and an average price target of $14.75.

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Kratos Defense & Security Solutions Profile

Kratos Defense & Security Solutions, Inc provides mission critical products, solutions, and services in the United States. The company operates through three segments: Kratos Government Solutions, Unmanned Systems, and Public Safety & Security. The Kratos Government Solutions segment offers microwave electronic products, satellite communications, training systems, modular systems, and defense and rocket support services.

Read More: Are Wall Street analysts’ stock ratings worth following?

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Institutional Ownership by Quarter for Kratos Defense & Security Solutions (NASDAQ:KTOS)

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