Northern Trust Corp Sells 2,404 Shares of Mercury Systems Inc $MRCY

Northern Trust Corp decreased its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,051 shares of the technology company’s stock after selling 2,404 shares during the period. Northern Trust Corp owned approximately 0.99% of Mercury Systems worth $25,468,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MRCY. Schonfeld Strategic Advisors LLC boosted its stake in Mercury Systems by 8.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company’s stock worth $288,000 after acquiring an additional 517 shares in the last quarter. Comerica Bank boosted its stake in Mercury Systems by 46.4% during the fourth quarter. Comerica Bank now owns 182,232 shares of the technology company’s stock worth $7,654,000 after acquiring an additional 57,797 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Mercury Systems by 13.5% during the fourth quarter. Ameriprise Financial Inc. now owns 392,358 shares of the technology company’s stock worth $16,479,000 after acquiring an additional 46,688 shares in the last quarter. Captrust Financial Advisors bought a new stake in Mercury Systems during the fourth quarter worth about $212,000. Finally, Deutsche Bank AG boosted its stake in Mercury Systems by 190.8% during the fourth quarter. Deutsche Bank AG now owns 151,476 shares of the technology company’s stock worth $6,362,000 after acquiring an additional 99,391 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Down 1.4%

Shares of Mercury Systems stock opened at $67.55 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The stock has a market capitalization of $4.05 billion, a PE ratio of -102.35, a price-to-earnings-growth ratio of 2.78 and a beta of 0.77. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week high of $69.95. The company has a 50-day simple moving average of $56.24 and a two-hundred day simple moving average of $50.14.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business had revenue of $273.11 million during the quarter, compared to analysts’ expectations of $244.56 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Activity

In other news, EVP David E. Farnsworth sold 7,572 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the transaction, the executive vice president directly owned 161,326 shares of the company’s stock, valued at $10,399,073.96. The trade was a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Ballhaus sold 13,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $841,203.00. Following the transaction, the chief executive officer directly owned 374,976 shares of the company’s stock, valued at $24,170,952.96. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 850,752 shares of company stock valued at $55,622,679 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MRCY shares. Zacks Research raised shares of Mercury Systems from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Robert W. Baird boosted their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Finally, Truist Financial lifted their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.71.

Mercury Systems Company Profile

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.