Invesco Ltd. Raises Stock Position in Karman Holdings Inc. $KRMN

Invesco Ltd. lifted its holdings in Karman Holdings Inc. (NYSE:KRMN) by 26.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,905,052 shares of the company’s stock after buying an additional 402,346 shares during the period. Invesco Ltd.’s holdings in Karman were worth $95,957,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KRMN. Global Trust Asset Management LLC purchased a new position in Karman in the second quarter worth about $50,000. Penserra Capital Management LLC purchased a new position in shares of Karman in the 2nd quarter worth approximately $95,000. Amalgamated Bank purchased a new position in shares of Karman in the 2nd quarter worth approximately $100,000. US Bancorp DE bought a new position in shares of Karman during the 1st quarter valued at approximately $124,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Karman during the 1st quarter valued at $170,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research report on Monday. Raymond James Financial initiated coverage on shares of Karman in a report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 price target on the stock. Evercore ISI raised their price objective on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Royal Bank Of Canada cut their target price on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Truist Financial assumed coverage on Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.17.

Insider Buying and Selling

In related news, CFO Michael Willis sold 115,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the completion of the transaction, the chief financial officer owned 859,709 shares of the company’s stock, valued at $50,404,738.67. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.69, for a total value of $4,713,060.00. Following the sale, the chief operating officer directly owned 666,861 shares in the company, valued at $42,472,377.09. This trade represents a 9.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 251,000 shares of company stock valued at $15,419,170 over the last 90 days.

Karman Stock Performance

Shares of Karman stock opened at $63.80 on Wednesday. Karman Holdings Inc. has a 12 month low of $25.02 and a 12 month high of $88.82. The stock’s fifty day moving average price is $72.32 and its 200-day moving average price is $59.35. The firm has a market cap of $8.44 billion and a P/E ratio of 255.20. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Karman (NYSE:KRMN) last issued its earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Karman had a net margin of 2.65% and a return on equity of 11.11%. The company had revenue of $121.79 million for the quarter. During the same quarter in the previous year, the company earned $0.04 earnings per share. The firm’s revenue was up 41.7% on a year-over-year basis.

Karman Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.