David M. Carter, President of the DRSS Division at Kratos Defense (NASDAQ:) & Security Solutions, Inc. (NASDAQ: KTOS ), recently sold 4,000 shares of the company’s stock. The transaction, executed on December 2, 2024, was executed under a 10b5-1 trading plan, adopted by Carter on May 20, 2024. The shares were sold at a weighted average price of $26.7265, with individual sales prices ranging from 26.44 USD to USD 27.18. After this transaction, Carter retains ownership of 107,116 shares, which includes shares acquired through the employee stock purchase plan and the 401(k) plan. The total value of the shares sold is 106,906 dollars. With a current market cap of $4.23 billion and a stock that appears overvalued based on InvestingProFair value analysis, investors can access 14 additional key insights and a comprehensive Pro Research Report covering KTOS on InvestingPro.
In other recent news, Kratos Defense & Security Solutions reported a strong third quarter of 2024, with revenues reaching $275.9 million, marking organic growth of 8.7% in unmanned systems. The company confirmed its financial guidance for this year, projecting 10% year-over-year revenue growth to 2025. Despite challenges in the commercial satellite sector and hiring for the propulsion business, Kratos remains optimistic about future defense spending and its market position.
Kratos is expanding its manufacturing capabilities with new facilities in Israel and India scheduled to open in the second quarter of 2025. The company anticipates significant growth in its launch engine business and small jet engine manufacturing, starting in the first half of 2025. Kratos is also involved in hypersonics and expects significant opportunities that could reach $1 billion over five years.
The company is pursuing major contracts, including a potential $1.5 billion award and another space opportunity valued at more than $100 million. Kratos plans to increase drone production to 400 units per year with an organic revenue growth rate of 10% by 2025, depending on the clarity of government funding. These are among the recent developments for Kratos Defense & Security Solutions.
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