The Insider Buying: Meggitt plc (MGGT) Insider Acquires £125.28 in Stock

The Insider Buying: Meggitt plc (MGGT) Insider Acquires £125.28 in Stock

Meggitt plc (LON:MGGT) insider Stephen G. Young bought 27 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were acquired at an average cost of GBX 464 ($5.74) per share, with a total value of £125.28 ($155.05).

Shares of Meggitt plc (LON:MGGT) opened at 445.80 on Friday. The company has a 50-day moving average of GBX 464.51 and a 200 day moving average of GBX 421.59. Meggitt plc has a one year low of GBX 337.60 and a one year high of GBX 489.00. The firm’s market cap is GBX 3.45 billion.

The company also recently announced a dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 8th were paid a GBX 4.80 ($0.06) dividend. This represents a yield of 1.14%. The ex-dividend date was Thursday, September 8th.

A number of equities research analysts have recently issued reports on MGGT shares. Beaufort Securities reaffirmed a “buy” rating on shares of Meggitt plc in a report on Wednesday, August 3rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Meggitt plc in a report on Tuesday, August 16th. Berenberg Bank lowered shares of Meggitt plc to a “hold” rating and dropped their target price for the stock from GBX 450 ($5.57) to GBX 440 ($5.45) in a report on Monday, August 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a GBX 385 ($4.76) target price on shares of Meggitt plc in a report on Tuesday, July 5th. Finally, BNP Paribas reissued a “neutral” rating and issued a GBX 430 ($5.32) price objective on shares of Meggitt plc in a report on Wednesday, August 3rd. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 434.95 ($5.38).

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