Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,166 shares of the technology company’s stock, valued at approximately $1,475,000.
Several other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Mercury Systems by 15.1% in the first quarter. First Trust Advisors LP now owns 60,527 shares of the technology company’s stock valued at $3,879,000 after acquiring an additional 7,934 shares during the last quarter. Empowered Funds LLC acquired a new position in Mercury Systems in the second quarter valued at about $1,143,000. Crossmark Global Holdings Inc. lifted its stake in Mercury Systems by 6.9% in the second quarter. Crossmark Global Holdings Inc. now owns 4,990 shares of the technology company’s stock valued at $351,000 after buying an additional 320 shares during the period. Louisiana State Employees Retirement System lifted its stake in Mercury Systems by 13.8% in the second quarter. Louisiana State Employees Retirement System now owns 20,600 shares of the technology company’s stock valued at $1,488,000 after buying an additional 2,500 shares during the period. Finally, OLD National Bancorp IN lifted its stake in Mercury Systems by 8.3% in the second quarter. OLD National Bancorp IN now owns 6,157 shares of the technology company’s stock valued at $433,000 after buying an additional 470 shares during the period. Hedge funds and other institutional investors own 95.07% of the company’s stock.
Several equities analysts have weighed in on MRCY shares. BidaskClub lowered Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Bank of America raised Mercury Systems from an “underperform” rating to a “neutral” rating and increased their target price for the company from $50.00 to $85.00 in a research note on Friday, August 9th. ValuEngine lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group started coverage on Mercury Systems in a research note on Friday, August 16th. They issued a “neutral” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.50.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $177.30 million for the quarter, compared to analyst estimates of $168.36 million. Mercury Systems had a return on equity of 7.59% and a net margin of 8.51%. Mercury Systems’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. Equities research analysts predict that Mercury Systems Inc will post 1.76 earnings per share for the current fiscal year.
In other news, CAO Michelle M. Mccarthy sold 624 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $84.99, for a total transaction of $53,033.76. Following the sale, the chief accounting officer now owns 10,982 shares of the company’s stock, valued at $933,360.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Didier M. C. Thibaud sold 3,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $73.41, for a total value of $256,935.00. Following the sale, the chief operating officer now directly owns 258,865 shares in the company, valued at approximately $19,003,279.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,538 shares of company stock worth $6,947,664. 2.80% of the stock is currently owned by insiders.
Mercury Systems Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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