Insider Buying: Meggitt plc (LON:MGGT) Insider Acquires 5,000 Shares of Stock

Meggitt plc (LON:MGGT) insider Caroline Silver acquired 5,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were bought at an average price of GBX 303 ($3.86) per share, for a total transaction of £15,150 ($19,282.17).

LON:MGGT traded down GBX 20 ($0.25) during trading hours on Wednesday, reaching GBX 295.10 ($3.76). 2,895,814 shares of the company traded hands, compared to its average volume of 3,380,000. The business’s 50-day moving average price is GBX 287.56 and its two-hundred day moving average price is GBX 460.05. The company has a current ratio of 1.25, a quick ratio of 0.67 and a debt-to-equity ratio of 43.41. The stock has a market capitalization of $2.34 billion and a P/E ratio of 10.59. Meggitt plc has a 1 year low of GBX 196.15 ($2.50) and a 1 year high of GBX 701.80 ($8.93).

A number of equities research analysts have weighed in on MGGT shares. JPMorgan Chase & Co. reduced their target price on shares of Meggitt from GBX 305 ($3.88) to GBX 275 ($3.50) and set a “neutral” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group dropped their price target on Meggitt from GBX 635 ($8.08) to GBX 375 ($4.77) and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Societe Generale lowered shares of Meggitt to a “sell” rating and dropped their price objective for the company from GBX 610 ($7.76) to GBX 205 ($2.61) in a research note on Friday, April 24th. Redburn Partners cut Meggitt to a “neutral” rating in a research report on Wednesday, March 18th. Finally, Goldman Sachs Group reduced their price objective on shares of Meggitt from GBX 342 ($4.35) to GBX 314 ($4.00) and set a “neutral” rating for the company in a research report on Friday, June 12th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of GBX 346.50 ($4.41).

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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