Kratos Defense executive sells $117,114 in company stock

David M. Carter, President of the DRSS Division at Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), recently sold 4,000 shares of the company’s common stock. The shares were sold at a weighted average price of $29.2785, resulting in a total transaction value of $117,114.

This transaction was executed under a 10b5-1 trading plan that Carter adopted on May 20, 2024. The shares were sold in multiple transactions with prices ranging from $28.923 to $29.68. Following the sale, Carter retains direct ownership of 109,425 shares, which includes shares acquired through the company’s Employee Stock Purchase Plan and 401(k) Plan. The company maintains a strong financial position, with InvestingPro data showing more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.

In other recent news, Kratos Defense & Security Solutions has been included in the S&P SmallCap 600 Index, a move that underscores the company’s growth in the defense and aerospace sectors. Additionally, Kratos has announced the construction of its Hypersonic System Indiana Payload Integration Facility, a $50 million investment aimed at enhancing hypersonic vehicle capabilities, with completion expected by the end of 2026. In a separate development, Kratos secured a $3.4 million contract from the U.S. Navy for logistics support of the BQM-177A Subsonic Aerial Target (NYSE:TGT) System, with the contract potentially expanding to $19.1 million over four years. The company also achieved compliance for its OpenEdge 2500 digitizer with the Digital IF Interoperability standard, marking it as one of the first products in the satellite network equipment industry to reach this status. This compliance is expected to boost Kratos’ market position and support the transition to software-defined ground systems. Meanwhile, the defense sector, including Kratos, experienced a positive market sentiment following reports involving President Trump and Elon Musk, despite official denials from the White House. These developments reflect Kratos’ ongoing efforts to innovate and expand its presence in defense and national security technologies.

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