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

Meggitt (LON:MGGT) had its price target boosted by Berenberg Bank from GBX 610 ($7.97) to GBX 695 ($9.08) in a research report report published on Monday, Digital Look reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on MGGT. Jefferies Financial Group reiterated a buy rating on shares of Meggitt in a research report on Tuesday, June 18th. Citigroup reiterated a buy rating and set a GBX 630 ($8.23) target price on shares of Meggitt in a research report on Thursday, May 16th. JPMorgan Chase & Co. decreased their target price on Meggitt from GBX 585 ($7.64) to GBX 580 ($7.58) and set a neutral rating on the stock in a research report on Thursday, May 16th. Morgan Stanley boosted their target price on Meggitt from GBX 450 ($5.88) to GBX 500 ($6.53) and gave the stock an equal weight rating in a research report on Thursday, May 30th. Finally, Deutsche Bank reiterated a hold rating on shares of Meggitt in a research report on Monday, May 13th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of GBX 589.10 ($7.70).

MGGT opened at GBX 612.60 ($8.00) on Monday. The business’s fifty day moving average is GBX 566.05 and its two-hundred day moving average is GBX 535.53. The company has a debt-to-equity ratio of 50.39, a quick ratio of 1.01 and a current ratio of 1.80. The company has a market cap of $4.76 billion and a price-to-earnings ratio of 26.87. Meggitt has a one year low of GBX 456.10 ($5.96) and a one year high of GBX 615.80 ($8.05).

The business also recently declared a dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, September 5th will be issued a GBX 5.55 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a dividend yield of 0.92%. Meggitt’s dividend payout ratio (DPR) is 0.75%.

In other news, insider Philip Ernest Green sold 137,330 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of GBX 523 ($6.83), for a total value of £718,235.90 ($938,502.42). Also, insider Guy Berruyer purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of GBX 497 ($6.49) per share, with a total value of £14,910 ($19,482.56). Over the last three months, insiders bought 3,121 shares of company stock valued at $1,554,292.

About Meggitt

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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