Bank of America reissued their buy rating on shares of Spirax-Sarco Engineering (LON:SPX – Free Report) in a research report report published on Thursday morning, MarketBeat Ratings reports.
Several other analysts also recently weighed in on the company. Berenberg Bank upped their price objective on 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 report on Friday, March 8th. Jefferies Financial Group upgraded Spirax-Sarco Engineering to a hold rating and set a GBX 9,740 ($123.28) price objective for the company in a research report on Wednesday, January 31st. Barclays dropped their price objective on Spirax-Sarco Engineering from £105.80 ($133.91) to GBX 9,960 ($126.06) and set an equal weight rating for the company in a research report on Tuesday, April 9th. Shore Capital restated a sell rating on shares of Spirax-Sarco Engineering in a research report on Monday, December 18th. Finally, Numis Securities restated a sell rating on shares of Spirax-Sarco Engineering in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of £101.50 ($128.46).
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Spirax-Sarco Engineering Stock Performance
Spirax-Sarco Engineering Increases Dividend
The business also recently announced a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued 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 a positive change from Spirax-Sarco Engineering’s previous dividend of $46.00. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is currently 6,425.70%.
Insider Activity
In other news, insider Nimesh Patel sold 660 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of £105.27 ($133.24), for a total value of £69,478.20 ($87,935.96). Corporate insiders own 0.98% of the company’s stock.
Spirax-Sarco Engineering Company Profile
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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