Brokerages Set Meggitt plc (LON:MGGT) Price Target at $459.71

Shares of Meggitt plc (LON:MGGT) have received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is GBX 459.38 ($5.98).

Several research firms recently commented on MGGT. Citigroup Inc. reiterated a “neutral” rating and issued a GBX 500 ($6.51) target price on shares of Meggitt plc in a research note on Friday, May 12th. J P Morgan Chase & Co upped their target price on Meggitt plc from GBX 500 ($6.51) to GBX 505 ($6.58) and gave the company a “neutral” rating in a research note on Friday, May 19th. Liberum Capital reiterated a “sell” rating and issued a GBX 375 ($4.88) target price on shares of Meggitt plc in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a GBX 457 ($5.95) target price on shares of Meggitt plc in a research note on Thursday, June 22nd. Finally, Barclays PLC restated an “overweight” rating on shares of Meggitt plc in a research note on Tuesday, July 18th.

In other news, insider Doug Webb sold 16,869 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of GBX 482 ($6.28), for a total transaction of £81,308.58 ($105,884.33). Insiders have bought a total of 75 shares of company stock worth $37,075 over the last quarter.

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

The company also recently announced a dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be issued a dividend of GBX 5.05 ($0.07) per share. This represents a yield of 1.01%. The ex-dividend date is Thursday, September 7th.

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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