Mercury Systems Inc $MRCY Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 257,100 shares of the technology company’s stock after selling 5,194 shares during the period. Principal Financial Group Inc.’s holdings in Mercury Systems were worth $18,745,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Mercury Systems by 15.4% during the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock worth $59,000 after buying an additional 107 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Mercury Systems by 1.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after purchasing an additional 134 shares during the period. GAMMA Investing LLC raised its holdings in Mercury Systems by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock worth $130,000 after purchasing an additional 181 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Mercury Systems by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock worth $880,000 after purchasing an additional 187 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Mercury Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock worth $1,111,000 after purchasing an additional 195 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director owned 52,448 shares in the company, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 18,250 shares of company stock valued at $1,733,220. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MRCY. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Friday, July 17th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group restated a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems Price Performance

Shares of MRCY stock opened at $98.92 on Thursday. Mercury Systems Inc has a 12 month low of $50.13 and a 12 month high of $128.45. The company has a market capitalization of $5.94 billion, a PE ratio of -412.17 and a beta of 0.93. The firm’s 50-day moving average is $107.80 and its two-hundred day moving average is $93.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. Analysts predict that Mercury Systems Inc will post 0.35 earnings per share for the current year.

Mercury Systems Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.