Deutsche Bank AG Lowers Meggitt plc (LON:MGGT) Price Target to GBX 450

Meggitt plc (LON:MGGT) had its price objective trimmed by Deutsche Bank AG from GBX 460 ($5.99) to GBX 450 ($5.86) in a research note released on Wednesday, August 2nd, Marketbeat.com reports. The firm currently has a hold rating on the stock.

MGGT has been the topic of several other research reports. Liberum Capital reaffirmed a sell rating and set a GBX 375 ($4.88) price objective on shares of Meggitt plc in a research note on Thursday, April 27th. Barclays PLC reissued an overweight rating and issued a GBX 540 ($7.03) price target on shares of Meggitt plc in a research note on Wednesday, May 3rd. JPMorgan Chase & Co. reissued an overweight rating and issued a GBX 575 ($7.49) price target on shares of Meggitt plc in a research note on Monday, July 24th. Bank of America Corporation raised Meggitt plc to a buy rating and set a GBX 530 ($6.90) price target on the stock in a research note on Wednesday, April 12th. Finally, Citigroup Inc. reissued a neutral rating and issued a GBX 500 ($6.51) price target on shares of Meggitt plc in a research note on Friday, May 12th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of GBX 454.43 ($5.92).

Meggitt plc (MGGT) opened at 494.20 on Wednesday. The firm has a 50-day moving average price of GBX 493.57 and a 200 day moving average price of GBX 468.05. Meggitt plc has a 52-week low of GBX 407.40 and a 52-week high of GBX 517.50. The stock’s market cap is GBX 3.83 billion.

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The firm also recently declared a dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be given a GBX 5.05 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a dividend yield of 1.01%.

In other Meggitt plc news, insider Doug Webb sold 16,869 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of GBX 482 ($6.28), for a total transaction of £81,308.58 ($105,884.33). Over the last 90 days, insiders have acquired 75 shares of company stock valued at $37,075.

Meggitt plc Company Profile

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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