Geode Capital Management LLC Buys 174,561 Shares of Karman Holdings Inc. $KRMN

Geode Capital Management LLC grew its stake in shares of Karman Holdings Inc. (NYSE:KRMN) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,156,163 shares of the company’s stock after purchasing an additional 174,561 shares during the period. Geode Capital Management LLC owned about 0.87% of Karman worth $84,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Karman by 151.1% during the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after purchasing an additional 5,621,556 shares in the last quarter. Lexington Partners L.P. bought a new stake in Karman during the 3rd quarter worth approximately $319,861,000. Invesco Ltd. increased its holdings in Karman by 68.6% during the 3rd quarter. Invesco Ltd. now owns 3,211,187 shares of the company’s stock worth $231,848,000 after purchasing an additional 1,306,135 shares in the last quarter. Schusterman Interests LLC bought a new stake in Karman during the 3rd quarter worth approximately $148,024,000. Finally, Trustees of the University of Pennsylvania bought a new stake in Karman during the 4th quarter worth approximately $142,869,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on KRMN shares. Piper Sandler decreased their price objective on Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, May 19th. Truist Financial raised Karman to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Karman in a report on Tuesday, June 2nd. Robert W. Baird upped their target price on Karman from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, March 20th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $37.00 target price on shares of Karman in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.60.

Karman Price Performance

Karman stock opened at $49.41 on Monday. Karman Holdings Inc. has a 12 month low of $43.49 and a 12 month high of $118.38. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08. The business’s 50 day simple moving average is $71.60 and its 200 day simple moving average is $81.61. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 214.81 and a beta of 0.33.

Karman (NYSE:KRMN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $151.21 million for the quarter, compared to the consensus estimate of $150.19 million. Karman had a return on equity of 14.94% and a net margin of 5.73%.Karman’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Sell-side analysts forecast that Karman Holdings Inc. will post 0.59 EPS for the current year.

Karman Company 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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.