Norges Bank, Norway’s central bank, acquired 1,380,669 shares of Kratos Defense & Security Solutions. This investment is valued at approximately $104.8 million. The purchase gives Norges Bank a 0.82% stake in the aerospace and defense company.
Kratos recently reported a 22.6% year-over-year revenue increase in its first-quarter earnings. The company also secured multiple new defense contracts during this period.
Wall Street analysts maintain a consensus Moderate Buy rating on the stock. No specific market reaction to the Norges Bank disclosure was recorded.