Stacey G. Rock, President of the KTT Division at Kratos Defense & (NASDAQ:KTOS) Security Solutions, Inc. (NASDAQ:KTOS), recently sold shares in the company valued at approximately $115,837. 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 conducted under a pre-established 10b5-1 trading plan.
Additionally, Rock 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, though these acquisitions were at no cost. Concurrently, shares were withheld to cover tax liabilities, amounting to a total of $162,324 at a price of $27.48 per share.
Following these transactions, Rock's direct ownership in Kratos Defense stands at 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:TCPJ) Agreement (OTA) contract potentially worth $1.45 billion for the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0. This agreement is expected to provide Kratos with long-term revenue visibility and the opportunity to engage in higher value work. The research firm BTIG has maintained a Neutral rating on Kratos' stock, acknowledging the importance of this award.
In a 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 has maintained a Hold rating on Kratos' shares, reflecting a positive outlook on the company's growth potential.
Kratos has also been awarded a $6.5 million contract by the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing. Raymond (NS:RYMD) James has maintained a Strong Buy rating on Kratos' shares.
In terms of financials, 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 are recent developments that highlight Kratos' growth trajectory and capability to secure major contracts within the defense sector.
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