Melrose Industries (LON:MRO) Stock Crosses Above 200 Day Moving Average of $565.96

Melrose Industries PLC (LON:MRO)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 565.96 ($7.05) and traded as high as GBX 658.40 ($8.20). Melrose Industries shares last traded at GBX 648.80 ($8.08), with a volume of 2,829,312 shares.

Analysts Set New Price Targets

Separately, Numis Securities reiterated an “add” rating and issued a GBX 640 ($7.97) price objective on shares of Melrose Industries in a research note on Friday, March 8th.

Melrose Industries Price Performance

The stock’s fifty day moving average is GBX 632.68 and its 200-day moving average is GBX 565.96. The stock has a market capitalization of £8.56 billion, a PE ratio of -32,440.00, a P/E/G ratio of 0.49 and a beta of 1.59. The company has a debt-to-equity ratio of 23.05, a current ratio of 0.86 and a quick ratio of 0.45.

Melrose Industries Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 8th. Investors of record on Thursday, March 28th will be issued a dividend of GBX 3.50 ($0.04) per share. The ex-dividend date is Thursday, March 28th. This is an increase from Melrose Industries’s previous dividend of $1.50. This represents a yield of 0.55%. Melrose Industries’s dividend payout ratio is -25,000.00%.

Insider Buying and Selling

In related news, insider Matthew Gregory acquired 16,670 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were acquired at an average cost of GBX 596 ($7.42) per share, with a total value of £99,353.20 ($123,681.31). 2.96% of the stock is currently owned by insiders.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, engages in the aerospace, automotive, powder metallurgy, and other industrial businesses in the United Kingdom, rest of Europe, North America, and internationally. Its Aerospace segment provides airframe and engine structures, and electrical interconnection systems for the aerospace industry in civil airframe and defense platforms.