Insider Buying: Meggitt PLC (MGGT) Insider Buys £19,458 in Stock

Meggitt PLC (LON:MGGT) insider Nigel Rudd bought 4,600 shares of the business’s stock in a transaction that occurred on Friday, April 6th. The stock was purchased at an average price of GBX 423 ($5.94) per share, with a total value of £19,458 ($27,313.31).

Shares of MGGT stock opened at GBX 427 ($5.99) on Monday. Meggitt PLC has a 12-month low of GBX 430.90 ($6.05) and a 12-month high of GBX 530 ($7.44).

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The business also recently disclosed a dividend, which will be paid on Friday, May 4th. Shareholders of record on Thursday, March 22nd will be given a dividend of GBX 10.80 ($0.15) per share. The ex-dividend date is Thursday, March 22nd. This is an increase from Meggitt’s previous dividend of $5.05. This represents a yield of 2.39%.

Several equities research analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating and issued a GBX 490 ($6.88) target price on shares of Meggitt in a research note on Monday, March 26th. Jefferies Group reiterated a “buy” rating on shares of Meggitt in a research note on Monday, December 18th. Liberum Capital raised their target price on shares of Meggitt from GBX 375 ($5.26) to GBX 410 ($5.76) and gave the company a “sell” rating in a research note on Friday, January 12th. JPMorgan Chase cut their price objective on shares of Meggitt from GBX 550 ($7.72) to GBX 540 ($7.58) and set an “overweight” rating for the company in a research report on Friday, January 5th. Finally, Credit Suisse Group cut their price objective on shares of Meggitt from GBX 390 ($5.47) to GBX 365 ($5.12) and set an “underperform” rating for the company in a research report on Tuesday, April 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of GBX 489.90 ($6.88).

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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.

Insider Buying and Selling by Quarter for Meggitt (LON:MGGT)

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