Meggitt plc (MGGT) Price Target Raised to GBX 470 at JPMorgan Chase & Co.
Meggitt plc (LON:MGGT) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from GBX 445 ($5.51) to GBX 470 ($5.82) in a research note issued to investors on Monday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 0.13% from the company’s previous close.
Several other brokerages also recently weighed in on MGGT. Goldman Sachs Group Inc. increased their target price on shares of Meggitt plc from GBX 402 ($4.98) to GBX 463 ($5.73) and gave the company a “neutral” rating in a research note on Monday, September 5th. Jefferies Group reduced their price target on shares of Meggitt plc from GBX 550 ($6.81) to GBX 500 ($6.19) and set a “hold” rating on the stock in a research note on Tuesday, August 30th. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a GBX 390 ($4.83) price target on shares of Meggitt plc in a research note on Thursday, September 1st. Panmure Gordon reaffirmed a “sell” rating and issued a GBX 325 ($4.02) price target on shares of Meggitt plc in a research note on Friday. Finally, Beaufort Securities reaffirmed a “buy” rating on shares of Meggitt plc in a research note on Thursday, August 25th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Meggitt plc has an average rating of “Hold” and an average target price of GBX 434.95 ($5.38).
Shares of Meggitt plc (LON:MGGT) traded up 1.27% on Monday, reaching GBX 469.40. 1,697,661 shares of the company’s stock traded hands. The company’s market cap is GBX 3.64 billion. The stock has a 50-day moving average price of GBX 465.56 and a 200-day moving average price of GBX 421.09. Meggitt plc has a 12-month low of GBX 337.60 and a 12-month high of GBX 491.80.
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The firm also recently declared a dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 8th were given a dividend of GBX 4.80 ($0.06) per share. This represents a yield of 1.14%. The ex-dividend date was Thursday, September 8th.
Meggitt plc Company Profile
Meggitt PLC is an engineering company. The Company’s segments are Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems and the Meggitt Equipment Group. Its Meggitt Aircraft Braking Systems is a supplier of aircraft wheels, brakes and brake control systems.
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