Equitable Trust Co. Acquires Shares of 7,000 Mercury Systems Inc (MRCY)

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Equitable Trust Co. acquired a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 7,000 shares of the technology company’s stock, valued at approximately $387,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Mercury Systems by 0.5% during the 3rd quarter. BlackRock Inc. now owns 8,319,573 shares of the technology company’s stock worth $460,238,000 after acquiring an additional 45,037 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Mercury Systems by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,868,042 shares of the technology company’s stock worth $103,340,000 after acquiring an additional 48,213 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Mercury Systems by 16.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,311,985 shares of the technology company’s stock worth $72,579,000 after acquiring an additional 181,345 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Mercury Systems by 59.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,130,014 shares of the technology company’s stock worth $43,008,000 after acquiring an additional 422,612 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Mercury Systems by 6.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,039,420 shares of the technology company’s stock worth $57,501,000 after acquiring an additional 66,513 shares during the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of MRCY stock opened at $48.37 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.94 and a current ratio of 4.40. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 2.96 and a beta of 0.80. Mercury Systems Inc has a 52 week low of $30.11 and a 52 week high of $57.26.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, October 30th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The firm had revenue of $144.10 million for the quarter, compared to the consensus estimate of $139.12 million. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The business’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, analysts forecast that Mercury Systems Inc will post 1.41 EPS for the current year.

In other Mercury Systems news, insider Mark Aslett sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $54.91, for a total transaction of $1,647,300.00. Following the sale, the insider now directly owns 427,440 shares in the company, valued at approximately $23,470,730.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 54,700 shares of company stock worth $2,837,217 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Several research firms recently weighed in on MRCY. Canaccord Genuity began coverage on shares of Mercury Systems in a research note on Thursday, October 4th. They set a “buy” rating and a $64.00 price objective on the stock. ValuEngine upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. BidaskClub upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Drexel Hamilton set a $58.00 target price on shares of Mercury Systems and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $53.86.

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Mercury Systems Company 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.

Further Reading: Why Dividend Stocks May Be Right for You

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

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