Meggitt plc (MGGT) Receives Consensus Rating of “Hold” from Brokerages
Meggitt plc (LON:MGGT) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is GBX 470.58 ($6.25).
Several equities analysts recently issued reports on the company. J P Morgan Chase & Co lowered their price objective on Meggitt plc from GBX 580 ($7.71) to GBX 570 ($7.57) and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Liberum Capital reaffirmed a “sell” rating and issued a GBX 375 ($4.98) price objective on shares of Meggitt plc in a research report on Tuesday, July 4th. Deutsche Bank AG upped their price objective on Meggitt plc from GBX 450 ($5.98) to GBX 460 ($6.11) and gave the company a “hold” rating in a research report on Thursday, August 31st. Barclays PLC reaffirmed an “overweight” rating on shares of Meggitt plc in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC raised Meggitt plc to a “buy” rating and upped their price objective for the company from GBX 500 ($6.64) to GBX 600 ($7.97) in a research report on Wednesday, August 23rd.
In other news, insider Nancy Gioia purchased 3,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were purchased at an average cost of GBX 524 ($6.96) per share, with a total value of £15,720 ($20,887.59). Insiders have bought a total of 3,073 shares of company stock worth $1,609,146 over the last three months.
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Shares of Meggitt plc (LON MGGT) traded up 0.50% during mid-day trading on Friday, hitting GBX 507.00. The company had a trading volume of 1,772,265 shares. The firm’s market capitalization is GBX 3.92 billion. The firm has a 50-day moving average price of GBX 512.30 and a 200-day moving average price of GBX 493.08. Meggitt plc has a 52 week low of GBX 407.40 and a 52 week high of GBX 530.00.
The company also recently declared a dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were issued a dividend of GBX 5.05 ($0.07) per share. The ex-dividend date was Thursday, September 7th. This represents a dividend yield of 1.01%.
About Meggitt plc
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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