MTS Systems Co. (NASDAQ:MTSC) released its earnings results on Monday. The scientific and technical instruments company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.19. MTS Systems had a return on equity of 12.45% and a net margin of 5.37%. The business had revenue of $193.42 million for the quarter, compared to analyst estimates of $185.54 million. During the same quarter in the prior year, the company posted $0.27 earnings per share.
Shares of MTS Systems (NASDAQ:MTSC) traded up 1.91% during midday trading on Friday, reaching $53.35. The company had a trading volume of 128,644 shares. The company has a 50 day moving average price of $49.25 and a 200-day moving average price of $53.53. The firm has a market capitalization of $893.13 million, a P/E ratio of 44.91 and a beta of 1.54. MTS Systems has a one year low of $41.53 and a one year high of $59.00.
In other news, insider David Hore acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average cost of $51.55 per share, for a total transaction of $257,750.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $257,750. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its stake in shares of MTS Systems by 24.3% in the first quarter. Tudor Investment Corp ET AL now owns 19,966 shares of the scientific and technical instruments company’s stock valued at $1,099,000 after buying an additional 3,900 shares during the last quarter. State Street Corp increased its stake in shares of MTS Systems by 5.6% in the first quarter. State Street Corp now owns 394,381 shares of the scientific and technical instruments company’s stock worth $21,722,000 after buying an additional 21,072 shares in the last quarter. Bank of America Corp DE increased its stake in shares of MTS Systems by 23.6% in the first quarter. Bank of America Corp DE now owns 285,667 shares of the scientific and technical instruments company’s stock worth $15,726,000 after buying an additional 54,489 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of MTS Systems by 10.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 109,744 shares of the scientific and technical instruments company’s stock worth $6,042,000 after buying an additional 9,979 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of MTS Systems by 114,721.5% in the first quarter. BlackRock Inc. now owns 2,148,311 shares of the scientific and technical instruments company’s stock worth $118,264,000 after buying an additional 2,146,440 shares in the last quarter. Hedge funds and other institutional investors own 99.96% of the company’s stock.
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MTSC has been the topic of several research analyst reports. Zacks Investment Research upgraded MTS Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 22nd. JPMorgan Chase & Co. lowered MTS Systems from an “overweight” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Friday, February 10th. Finally, TheStreet lowered MTS Systems from a “b-” rating to a “c” rating in a research note on Monday, April 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $55.67.
About MTS Systems
MTS Systems Corporation is a supplier of test systems and position sensors. The Company operates through two segments: Test and Sensors. The Test segment provides testing solutions, including hardware, software and services to ground vehicles, materials and structures markets. The Sensors segment provides position sensors for a range of industrial and mobile hydraulic applications.
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