Maria Cervantes de Burgreen, Vice President and Corporate Controller at Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Cervantes de Burgreen sold a total of 19,528 shares on January 7, 2025, at a price of $30 per share, amounting to $585,840.
The transactions were executed as part of a 10b5-1 trading plan, which was adopted on June 6, 2024. Following these sales, Cervantes de Burgreen still holds 51,121 shares directly. The filing also reported additional transactions on January 3 and 4, including the acquisition of shares through the vesting of restricted stock units and shares withheld to cover tax liabilities, totaling $172,904 at a price of $27.48 per share. According to InvestingPro, Kratos maintains a healthy financial position with a "GOOD" overall health score, and analysts have identified 12 additional key insights about the company's performance and outlook.
In other recent news, Kratos Defense & Security Solutions has secured a series of significant contracts that highlight its growth trajectory and robust financial health. The company was awarded a substantial Other Transaction (JO:TCPJ) Agreement potentially worth $1.45 billion over five years for the MultiService Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0, marking the largest contract in the company's history. In addition, Kratos secured a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing.
Kratos is also set to develop a supersonic engine in collaboration with GE Additive and StandardAero, a development fully funded by the customer, Boom Supersonic. This collaboration is part of a partnership with Boom Supersonic, a startup focused on supersonic jet travel.
Research firms have acknowledged the significance of these developments for Kratos. BTIG maintained a Neutral rating on Kratos' stock, while Jefferies and Raymond (NS:RYMD) James maintained their Hold and Strong Buy ratings on Kratos shares respectively, reflecting a positive outlook on the company's growth potential in the defense sector.
Kratos reported robust third-quarter revenues in 2024, reaching $275.9 million, marking an 8.7% organic growth in unmanned systems and surpassing estimates. The company is also projecting a 10% year-over-year revenue growth for 2025. These recent developments underscore the company's strong financial health and its capability to secure major contracts within the defense sector.
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