Spirax-Sarco Engineering (LON:SPX – Free Report) had its price target reduced by Barclays from £105.80 ($133.91) to GBX 9,960 ($126.06) in a report published on Tuesday morning, MarketBeat reports. Barclays currently has an equal weight rating on the stock.
SPX has been the subject of several other reports. Berenberg Bank raised their price target on shares of Spirax-Sarco Engineering from GBX 8,800 ($111.38) to GBX 9,800 ($124.03) and gave the stock a hold rating in a research note on Friday, March 8th. Jefferies Financial Group raised shares of Spirax-Sarco Engineering to a hold rating and set a GBX 9,740 ($123.28) target price for the company in a research report on Wednesday, January 31st. Numis Securities reissued a sell rating on shares of Spirax-Sarco Engineering in a research report on Thursday, March 7th. Finally, Shore Capital restated a sell rating on shares of Spirax-Sarco Engineering in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of £101.50 ($128.46).
Read Our Latest Report on Spirax-Sarco Engineering
Spirax-Sarco Engineering Stock Up 0.8 %
Spirax-Sarco Engineering Increases Dividend
The company also recently disclosed a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a GBX 114 ($1.44) dividend. This represents a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Spirax-Sarco Engineering’s previous dividend of $46.00. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is 6,451.61%.
Insider Activity
In related news, insider Nimesh Patel sold 660 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of £105.27 ($133.24), for a total value of £69,478.20 ($87,935.96). 0.94% of the stock is owned by insiders.
About Spirax-Sarco Engineering
Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, and specialty filling systems and products for single-use applications.
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