SAN DIEGO—Deanna H. Lund, Executive Vice President and Chief Financial Officer of Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), recently sold 6,000 shares of the company's common stock. The shares were sold at a weighted average price of $26.7287, totaling approximately $160,372.
This transaction was executed as part of a pre-established 10b5-1 trading plan, which Lund adopted in September 2019 and amended in August 2023. Following the sale, Lund retains ownership of 267,708 shares, which include shares acquired through Kratos's Employee Stock Purchase Plan and its 401(k) Plan. With a strong current ratio of 3.22, InvestingPro data shows KTOS maintains robust liquidity, one of 14 key insights available in the comprehensive Pro Research Report for this $4.2 billion defense contractor.
In other recent news, Kratos Defense & Security Solutions disclosed its robust Q3 2024 results, reporting revenues of $275.9 million, an 8.7% organic growth in unmanned systems, surpassing estimates. The company also confirmed its financial guidance for the year, projecting a 10% year-over-year revenue growth for 2025. Kratos Defense is expanding its manufacturing capabilities, with new facilities in Israel and India set to open in Q2 2025. Despite challenges in the commercial satellite sector, the company is realigning resources and investing in proprietary technologies. Significant growth is forecasted in the motor launch business and small jet engine production, with production ramp-ups beginning in the first half of 2025. The company anticipates international opportunities for the Valkyrie drone as part of the PAC-P program and expects substantial opportunities in hypersonics that could reach $1 billion over five years. Despite facing recruitment challenges, Kratos remains confident in its growth potential, particularly in the international target drone market and driverless vehicle solutions. These are recent developments in the company's operations and strategic initiatives.
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