Meggitt (MGGT) Earns Hold Rating from Deutsche Bank

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Deutsche Bank reissued their hold rating on shares of Meggitt (LON:MGGT) in a research note issued to investors on Friday.

Several other equities analysts have also commented on the stock. Liberum Capital reaffirmed a sell rating on shares of Meggitt in a report on Friday, June 8th. Berenberg Bank raised shares of Meggitt to a buy rating in a report on Monday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Meggitt from GBX 630 ($8.05) to GBX 645 ($8.24) and gave the company an overweight rating in a report on Tuesday, July 3rd. Credit Suisse Group reaffirmed an underperform rating and set a GBX 365 ($4.67) target price on shares of Meggitt in a report on Tuesday, May 1st. Finally, Barclays lowered shares of Meggitt to an equal weight rating and set a GBX 550 ($7.03) target price on the stock. in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Meggitt currently has a consensus rating of Hold and a consensus price target of GBX 530 ($6.77).

MGGT stock opened at GBX 531 ($6.79) on Friday. Meggitt has a 52 week low of GBX 430.90 ($5.51) and a 52 week high of GBX 530 ($6.77).

The company also recently declared a dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 6th will be issued a GBX 5.30 ($0.07) dividend. This represents a yield of 0.93%. The ex-dividend date is Thursday, September 6th.

In other news, insider Philip Ernest Green purchased 272 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of GBX 551 ($7.04) per share, with a total value of £1,498.72 ($1,915.79). In the last three months, insiders acquired 317 shares of company stock worth $174,661.

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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