IMI plc (LON:IMI – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,649.96 ($20.54) and traded as high as GBX 1,747.43 ($21.75). IMI shares last traded at GBX 1,718 ($21.39), with a volume of 342,299 shares traded.
Analysts Set New Price Targets
Several equities analysts recently weighed in on IMI shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,950 ($24.27) target price on shares of IMI in a research note on Monday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a GBX 2,150 ($26.76) target price on shares of IMI in a research report on Thursday, February 29th.
IMI Stock Performance
IMI Increases Dividend
The business also recently announced a dividend, which will be paid on Friday, May 17th. Shareholders of record on Thursday, April 4th will be given a dividend of GBX 19.20 ($0.24) per share. This represents a yield of 1.11%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from IMI’s previous dividend of $9.10. IMI’s payout ratio is currently 3,010.75%.
Insiders Place Their Bets
In other IMI news, insider Roy Twite sold 57,067 shares of IMI stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of GBX 1,819 ($22.64), for a total transaction of £1,038,048.73 ($1,292,230.46). 1.41% of the stock is owned by insiders.
About IMI
IMI plc, a specialist engineering company, designs and manufactures engineering products in the United Kingdom, Germany, rest of Europe, the United States of America, rest of the Americas, China, rest of Asia Pacific, the Middle East, and Africa. It operates through IMI Precision Engineering, IMI Critical Engineering, and IMI Hydronic Engineering segments.
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