MTS Systems Shares Gap Down on Insider Selling (MTSC)
MTS Systems (NASDAQ:MTSC)’s share price gapped down prior to trading on Monday following insider selling activity, Analyst RN reports. The stock had previously closed at $68.97, but opened at $69.62. MTS Systems shares last traded at $70.99, with a volume of 20,999 shares.
Specifically, CFO Susan E. Knight unloaded 22,803 shares of MTS Systems stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $68.13, for a total transaction of $1,553,568.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on MTSC. Analysts at Needham & Company LLC cut their price target on shares of MTS Systems from $80.00 to $78.00 in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. MTS Systems presently has a consensus rating of “Hold” and an average price target of $35.18.
The stock’s 50-day moving average is $67.03 and its 200-day moving average is $68.09. The company has a market cap of $1.079 billion and a P/E ratio of 20.63.
MTS Systems (NASDAQ:MTSC) last released its earnings data on Monday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $148.63 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that MTS Systems will post $2.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, September 11th.
MTS Systems Corporation (NASDAQ:MTSC) is a global supplier of test systems and position sensors.
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