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SAN DIEGO—Thomas E. Mills IV, President of the C5ISR Division at Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), recently executed a significant stock sale, according to a filing with the Securities and Exchange Commission. On February 18, Mills sold 8,637 shares of common stock, generating a total of $234,442. The shares were sold at a weighted average price of $27.144, with transaction prices ranging from $26.88 to $27.465. The stock has declined about 4% over the past week, with investors possibly eyeing the company’s upcoming earnings report scheduled for February 26.
This transaction was conducted under a 10b5-1 trading plan Mills adopted on May 31, 2024. Following the sale, Mills retains ownership of 12,215 shares, which includes 615 shares acquired through the company’s Employee Stock Purchase Plan and approximately 3,429 shares held via the company’s 401(k) Plan. For deeper insights into insider trading patterns and comprehensive financial analysis, including 10 additional exclusive ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Kratos Defense & Security Solutions has been in the spotlight with several significant developments. The company secured a landmark $1.45 billion contract under the U.S. Department of Defense’s National Hypersonic Initiative 2.0, marking the largest contract in its history. This contract, which aims to enhance hypersonic flight testing capabilities, has been pivotal in boosting analyst confidence, leading B.Riley to upgrade Kratos from Neutral to Buy and raise the price target from $26 to $35. Similarly, Baird increased its price target for Kratos to $40, citing the transformational impact of the hypersonic contract and its potential to drive substantial revenue growth in the coming years.
JMP Securities also raised its price target for Kratos to $40, maintaining a Market Outperform rating, based on the company’s promising growth drivers in defense markets. In addition to these financial developments, Kratos successfully demonstrated its autonomous truck platooning system in Canada, showcasing its innovative capabilities in addressing driver shortages and enhancing safety. This demonstration highlights Kratos’ commitment to leveraging dual-use technology for both defense and commercial applications. The company’s strategic positioning and recent achievements continue to solidify its standing in the defense sector, as reflected in the positive outlook from multiple analyst firms.
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