Barclays started coverage on shares of Meggitt (LON:MGGT) in a research report sent to investors on Tuesday morning, ThisIsMoney.Co.Uk reports. The brokerage issued an underweight rating and a GBX 460 ($6.01) target price on the stock.
Other equities research analysts also recently issued reports about the company. UBS Group reaffirmed a sell rating on shares of Meggitt in a research report on Friday, April 26th. Deutsche Bank reaffirmed a hold rating on shares of Meggitt in a research report on Monday. Credit Suisse Group raised their price target on Meggitt from GBX 450 ($5.88) to GBX 465 ($6.08) and gave the company an underperform rating in a research report on Wednesday, March 6th. HSBC assumed coverage on Meggitt in a research report on Tuesday, February 12th. They issued a buy rating and a GBX 645 ($8.43) price target on the stock. Finally, Goldman Sachs Group reduced their target price on shares of Meggitt from GBX 626 ($8.18) to GBX 585 ($7.64) and set a neutral rating for the company in a research note on Monday, March 11th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of GBX 571.13 ($7.46).
Meggitt stock opened at GBX 539 ($7.04) on Tuesday. The company has a debt-to-equity ratio of 50.39, a quick ratio of 1.01 and a current ratio of 1.80. The firm has a market cap of $4.18 billion and a price-to-earnings ratio of 23.64. Meggitt has a one year low of GBX 456.10 ($5.96) and a one year high of GBX 583.80 ($7.63).
The business also recently announced a dividend, which was paid on Friday, May 3rd. Investors of record on Thursday, March 21st were paid a GBX 11.35 ($0.15) dividend. This represents a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, March 21st. This is a boost from Meggitt’s previous dividend of $5.30. Meggitt’s dividend payout ratio (DPR) is presently 0.75%.
In other Meggitt news, insider Marina Thomas sold 3,813 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of GBX 524 ($6.85), for a total transaction of £19,980.12 ($26,107.57). Also, insider Tony Wood purchased 227 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of GBX 546 ($7.13) per share, with a total value of £1,239.42 ($1,619.52). In the last quarter, insiders purchased 282 shares of company stock valued at $153,145.
Meggitt Company Profile
Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.
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