David M. Carter, President of the DRSS Division at Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), recently sold 4,000 shares of the company's common stock. The transaction, executed on December 2, 2024, was conducted under a 10b5-1 trading plan, which Carter adopted on May 20, 2024. The shares were sold at a weighted average price of $26.7265, with individual sale prices ranging from $26.44 to $27.18. Following this transaction, Carter retains ownership of 107,116 shares, which includes shares acquired through the company's Employee Stock Purchase Plan and 401(k) Plan. The total value of the shares sold amounts to $106,906. With a current market capitalization of $4.23 billion and the stock appearing overvalued based on InvestingPro's Fair 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 robust third quarter in 2024, with revenues reaching $275.9 million, marking an 8.7% organic growth in unmanned systems. The company confirmed its financial guidance for the year, projecting a 10% year-over-year revenue growth for 2025. Despite challenges in the commercial satellite sector and recruitment for the propulsion business, Kratos remains optimistic about future defense spending and its position in the market.
Kratos is expanding its manufacturing capabilities with new facilities in Israel and India set to open in Q2 2025. The company anticipates significant growth in the motor launch business and small jet engine production, beginning in the first half of 2025. Kratos is also involved in hypersonics and expects substantial opportunities that could reach $1 billion over five years.
The company is pursuing large contracts, including a potential $1.5 billion award and another space opportunity valued over $100 million. Kratos plans to ramp up drone production to 400 units annually with a 10% organic revenue growth rate for 2025, depending on government funding clarity. These are among the recent developments for Kratos Defense & Security Solutions.
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