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SAN DIEGO—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 $32.88, with transaction prices ranging from $32.50 to $33.65, totaling approximately $131,519.
This sale was conducted under a 10b5-1 trading plan that Carter adopted on May 20, 2024. Following this transaction, Carter holds 106,906 shares, which include shares acquired through the company’s Employee Stock Purchase Plan and 401(k) Plan. InvestingPro subscribers can access 14 additional investment tips and a comprehensive Pro Research Report for KTOS, offering deeper insights into the company’s financial health, which currently rates as "GOOD" with particularly strong momentum scores.
In other recent news, Kratos Defense & Security has been making significant strides in both financial growth and technological advancements. JMP Securities recently raised their price target for Kratos from $30.00 to $40.00, maintaining a Market Outperform rating. This adjustment reflects a positive outlook on the company’s growth potential in both established and emerging defense markets. Similarly, Baird has also elevated their price target for Kratos shares to $40.00, up from $35.00, citing the company’s transformational $1.45 billion contract win in the hypersonic market.
Kratos has also successfully completed a demonstration of its autonomous truck platooning system in northern Québec, Canada, in collaboration with FPInnovations. This technology aims to address driver shortages, enhance safety, stimulate rural economies, and inform regulatory frameworks for autonomous vehicles.
In addition, Kratos received a significant analyst upgrade from B.Riley, moving from Neutral to Buy with a price target increase from $26 to $35. This upgrade was triggered by the company’s recent $1.45 billion contract award for the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0.
These recent developments highlight Kratos’ commitment to innovation, its strategic positioning in the defense sector, and its potential for future financial growth.
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