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SAN DIEGO—Steven S. Fendley, President of the U.S. Division at Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS), recently sold 7,000 shares of the company’s common stock. The shares were sold at a weighted average price of $29.45, with the transaction totaling approximately $206,135.
This sale was conducted under a 10b5-1 trading plan, a pre-arranged plan that allows executives to sell stock at predetermined times, which Fendley adopted on May 20, 2024. Following this transaction, Fendley retains 404,133 shares, which includes shares held through Kratos’ 401(k) Plan. The company maintains strong financial health with a current ratio of 2.94 and holds more cash than debt on its balance sheet.
Kratos Defense, known for its focus on providing technologies for national security, continues to be a significant player in the defense industry. Investors and analysts will be watching closely to see if this transaction signals any broader trends within the company. Analyst price targets currently range from $22 to $40 per share. For deeper insights into KTOS’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Kratos Defense & Security Solutions announced its inclusion in the S&P SmallCap 600 Index, reflecting its sustained growth in the defense and aerospace sectors. The company has also begun construction on a new Hypersonic System Indiana Payload Integration Facility in Crane, Indiana, with a target operational date by the end of 2026. This facility, a $50 million investment, aims to accelerate hypersonic system testing and is expected to create over 100 high-tech jobs. Additionally, Kratos secured a $3.4 million contract from the U.S. Navy to support the BQM-177A Subsonic Aerial Target (NYSE:TGT) System, with potential extensions increasing the contract’s total value to over $19 million. In a significant industry development, Kratos’ OpenEdge 2500 digitizer achieved compliance with the Digital IF Interoperability (DIFI) standard, enhancing its role in satellite network integration. These developments underscore Kratos’ ongoing commitment to innovation and strategic investments in defense technology.
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