Stacey G. Rock, KTT Division President at Kratos’ Defense & (NASDAQ:) Security Solutions, Inc. (NASDAQ:KTOS), recently sold approximately $115,837 worth of shares in the company. The transaction, executed on January 6, 2025, involved the sale of 4,000 shares at an average price of $28.9593 each. This sale was made according to a predetermined 10b5-1 trading plan.
In addition, Rock has engaged in several transactions related to restricted stock units (RSUs) and common stock. On January 3 and 4, 2025, Rock acquired a total of 18,000 shares through the vesting of RSUs, although these vestings were free. At the same time, shares were withheld to cover tax liabilities, totaling $162,324 at $27.48 per share.
After these transactions, Rock’s direct ownership in Kratos Defense is 57,267 shares.
In other recent news, Kratos Defense & Security has been awarded several significant contracts. The company recently secured a five-year Other Transaction (JO:) A potentially $1.45 billion contract of agreement (OTA) for the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0. This deal is expected to provide Kratos with long-term revenue visibility and the opportunity to engage in higher value business. Research firm BTIG maintained a Neutral rating on Kratos’ stock, recognizing the importance of this award.
In collaboration with GE Additive and StandardAero, Kratos is set to develop a supersonic engine for Boom Supersonic’s Overture jet. This development is fully funded by the customer, Boom Supersonic. Jefferies maintained a Hold rating on Kratos shares, reflecting a positive outlook on the company’s growth potential.
Kratos also received a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) to test hypersonic flight. Raymond (NS:) James maintained a Strong Buy rating on Kratos stock.
On the financial side, Kratos reported strong Q3 2024 revenue, reaching $275.9 million, marking organic growth of 8.7% in unmanned systems and beating estimates. The company also projects 10% year-over-year revenue growth for 2025.
These are recent developments that highlight Kratos’ growth trajectory and ability to secure major contracts within the defense sector.
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