Principal Financial Group Inc. Has $24.20 Million Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Principal Financial Group Inc. boosted its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCYGet Rating) by 95.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 376,107 shares of the technology company’s stock after purchasing an additional 183,210 shares during the period. Principal Financial Group Inc. owned 0.65% of Mercury Systems worth $24,195,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in Mercury Systems by 60.7% during the first quarter. Captrust Financial Advisors now owns 1,573 shares of the technology company’s stock valued at $101,000 after purchasing an additional 594 shares during the last quarter. Shelton Capital Management acquired a new stake in shares of Mercury Systems in the first quarter valued at approximately $209,000. Eaton Vance Management lifted its position in shares of Mercury Systems by 50.4% in the first quarter. Eaton Vance Management now owns 3,356 shares of the technology company’s stock valued at $216,000 after buying an additional 1,124 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Mercury Systems in the first quarter valued at approximately $221,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Mercury Systems in the first quarter valued at approximately $222,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Price Performance

Mercury Systems stock opened at $49.52 on Friday. The stock’s fifty day moving average price is $46.35 and its two-hundred day moving average price is $53.13. Mercury Systems, Inc. has a one year low of $40.48 and a one year high of $72.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.83 and a quick ratio of 3.25. The firm has a market cap of $2.87 billion, a PE ratio of 825.33, a price-to-earnings-growth ratio of 23.26 and a beta of 0.95.

Insider Activity

In other news, EVP Thomas Huber sold 2,584 shares of Mercury Systems stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $46.45, for a total value of $120,026.80. Following the transaction, the executive vice president now owns 67,455 shares in the company, valued at approximately $3,133,284.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Thomas Huber sold 2,584 shares of Mercury Systems stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $46.45, for a total value of $120,026.80. Following the transaction, the executive vice president now owns 67,455 shares in the company, valued at approximately $3,133,284.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Mitch Stevison sold 1,691 shares of Mercury Systems stock in a transaction on Saturday, October 15th. The shares were sold at an average price of $42.89, for a total value of $72,526.99. Following the completion of the transaction, the executive vice president now owns 59,501 shares in the company, valued at approximately $2,551,997.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,743 shares of company stock worth $216,759. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MRCY. StockNews.com began coverage on Mercury Systems in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group cut their price objective on Mercury Systems from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, October 13th. Robert W. Baird cut their price objective on Mercury Systems from $72.00 to $58.00 in a research report on Wednesday, August 3rd. Raymond James started coverage on Mercury Systems in a report on Thursday, October 27th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Royal Bank of Canada dropped their price target on Mercury Systems from $72.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.13.

About Mercury Systems

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Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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