Meggitt plc’s “Outperform” Rating Reaffirmed at RBC Capital (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “outperform” rating reiterated by RBC Capital in a research note issued on Wednesday. They currently have a GBX 560 ($9.27) price objective on the stock. RBC Capital’s target price would suggest a potential upside of 19.15% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Meggitt plc in a research note on Friday, August 22nd. They now have a GBX 550 ($9.10) price target on the stock. Separately, analysts at Espirito Santo Investment Bank Research reiterated a “neutral” rating on shares of Meggitt plc in a research note on Friday, August 22nd. They now have a GBX 495 ($8.19) price target on the stock. Finally, analysts at Westhouse Securities cut their price target on shares of Meggitt plc from GBX 470 ($7.78) to GBX 430 ($7.12) in a research note on Wednesday, August 13th. They now have a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 527.12 ($8.72).
Meggitt plc (LON:MGGT) traded up 0.57% during mid-day trading on Wednesday, hitting GBX 472.70. 383,284 shares of the company’s stock traded hands. Meggitt plc has a 52 week low of GBX 445.00 and a 52 week high of GBX 573.50. The stock has a 50-day moving average of GBX 496.0 and a 200-day moving average of GBX 491.5. The company’s market cap is £3.808 billion.
The company also recently announced a dividend, which is scheduled for Friday, October 3rd. Shareholders of record on Wednesday, August 13th will be paid a dividend of GBX 4.25 ($0.07) per share. This represents a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 13th.
Meggitt PLC is engaged in designing and manufacturing of components and sub-systems. The Company’s segments include Aircraft Braking Systems, which is a supplier of aircraft wheels, brakes and brake control systems; Control Systems, which is a supplier of pneumatic, fluid control, thermal management and electro-mechanical equipment and sub-systems; Polymers & Composites, which is a specialist in fuel containment, engineered aircraft sealing solutions and technical polymers, electrothermal ice protection and complex composite structures and assemblies; Sensing Systems, which is a provider of sensing and condition-monitoring solutions for rotating machinery and other assets, and Equipment Group division, which supplies aircraft fire protection and control systems, avionics, combat systems, live-fire and simulation training, and heat transfer equipment.
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