State of New Jersey Common Pension Fund D Acquires Shares of 40,725 Karman Holdings Inc. $KRMN

State of New Jersey Common Pension Fund D acquired a new stake in shares of Karman Holdings Inc. (NYSE:KRMN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 40,725 shares of the company’s stock, valued at approximately $2,940,000.

A number of other large investors also recently modified their holdings of KRMN. Millennium Management LLC acquired a new stake in Karman in the 1st quarter valued at $10,199,000. Goldman Sachs Group Inc. bought a new position in shares of Karman in the first quarter valued at $17,371,000. Jane Street Group LLC acquired a new position in shares of Karman during the first quarter valued at about $532,000. Envestnet Asset Management Inc. bought a new stake in shares of Karman during the second quarter worth about $762,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Karman in the 2nd quarter worth about $1,126,000.

Karman Stock Down 8.1%

Shares of NYSE:KRMN opened at $81.33 on Friday. Karman Holdings Inc. has a 1 year low of $25.02 and a 1 year high of $118.38. The company has a market capitalization of $10.76 billion and a PE ratio of 325.31. The business has a fifty day moving average price of $90.82 and a two-hundred day moving average price of $74.52. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial set a $118.00 price target on Karman in a research note on Friday, January 9th. BWS Financial reaffirmed a “sell” rating and set a $37.00 target price on shares of Karman in a research report on Thursday, January 22nd. Evercore upped their price target on Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $130.00 price target on shares of Karman in a research report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Karman in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Karman has an average rating of “Moderate Buy” and a consensus target price of $103.33.

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. 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.