Meggitt (LON:MGGT) Price Target Raised to GBX 695 at Berenberg Bank

Meggitt (LON:MGGT) had its price objective upped by Berenberg Bank from GBX 610 ($7.97) to GBX 695 ($9.08) in a report released on Monday, Digital Look reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on MGGT. Deutsche Bank reiterated a hold rating on shares of Meggitt in a research note on Monday, May 13th. UBS Group reiterated a sell rating on shares of Meggitt in a research note on Friday, June 21st. Citigroup reiterated a buy rating and issued a GBX 630 ($8.23) price objective on shares of Meggitt in a research note on Thursday, May 16th. JPMorgan Chase & Co. dropped their price objective on Meggitt from GBX 585 ($7.64) to GBX 580 ($7.58) and set a neutral rating on the stock in a research note on Thursday, May 16th. Finally, Barclays assumed coverage on Meggitt in a research note on Tuesday, May 14th. They issued an underweight rating and a GBX 460 ($6.01) price objective on the stock. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Meggitt currently has an average rating of Hold and an average price target of GBX 589.10 ($7.70).

Meggitt stock opened at GBX 610.80 ($7.98) on Monday. Meggitt has a 12 month low of GBX 456.10 ($5.96) and a 12 month high of GBX 606.98 ($7.93). The company has a current ratio of 1.80, a quick ratio of 1.01 and a debt-to-equity ratio of 50.39. The firm has a 50 day moving average price of GBX 560.85. The stock has a market capitalization of $4.75 billion and a P/E ratio of 26.79.

The business also recently announced a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 5th will be given a dividend of GBX 5.55 ($0.07) per share. The ex-dividend date is Thursday, September 5th. This represents a dividend yield of 0.92%. Meggitt’s dividend payout ratio is currently 0.75%.

In other Meggitt news, insider Philip Ernest Green sold 137,330 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of GBX 523 ($6.83), for a total transaction of £718,235.90 ($938,502.42). Also, insider Guy Berruyer bought 3,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of GBX 497 ($6.49) per share, for a total transaction of £14,910 ($19,482.56). In the last 90 days, insiders have acquired 3,096 shares of company stock worth $1,539,192.

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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Analyst Recommendations for Meggitt (LON:MGGT)

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