Principal Financial Group Inc. Has $8.82 Million Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Principal Financial Group Inc. trimmed its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 7.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,368 shares of the technology company's stock after selling 19,499 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of Mercury Systems worth $8,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MRCY. M&T Bank Corp boosted its position in Mercury Systems by 12.3% in the 3rd quarter. M&T Bank Corp now owns 71,218 shares of the technology company's stock valued at $2,635,000 after buying an additional 7,779 shares during the last quarter. Barclays PLC boosted its holdings in Mercury Systems by 471.3% in the third quarter. Barclays PLC now owns 175,562 shares of the technology company's stock valued at $6,496,000 after acquiring an additional 144,831 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Mercury Systems in the third quarter valued at about $219,000. XTX Topco Ltd acquired a new stake in Mercury Systems in the third quarter worth about $857,000. Finally, Stifel Financial Corp bought a new stake in Mercury Systems during the 3rd quarter worth about $246,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRCY. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. StockNews.com raised shares of Mercury Systems from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group upgraded shares of Mercury Systems from an "underperform" rating to a "hold" rating and upped their target price for the company from $30.00 to $42.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.29.

Mercury Systems Stock Performance

Shares of MRCY stock remained flat at $42.00 on Wednesday. 466,679 shares of the stock traded hands, compared to its average volume of 575,726. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. Mercury Systems, Inc. has a one year low of $25.31 and a one year high of $44.63. The company has a fifty day simple moving average of $39.09 and a two-hundred day simple moving average of $36.08. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -20.49 and a beta of 0.78.

Insider Buying and Selling at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $38.80, for a total transaction of $59,247.60. Following the completion of the sale, the chief operating officer now owns 113,488 shares of the company's stock, valued at $4,403,334.40. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

Mercury Systems 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.