Shares of IMI plc (LON:IMI – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,657.30 ($20.47) and traded as high as GBX 1,737 ($21.46). IMI shares last traded at GBX 1,725 ($21.31), with a volume of 455,237 shares.
Analysts Set New Price Targets
IMI has been the subject of several research reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,950 ($24.09) price objective on shares of IMI in a report on Monday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 2,150 ($26.56) price objective on shares of IMI in a report on Thursday, February 29th.
Check Out Our Latest Stock Report on IMI
IMI Stock Performance
IMI Increases Dividend
The business also recently declared a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 4th will be issued a GBX 19.20 ($0.24) dividend. This represents a dividend yield of 1.11%. This is a boost from IMI’s previous dividend of $9.10. The ex-dividend date of this dividend is Thursday, April 4th. IMI’s payout ratio is 3,010.75%.
Insider Transactions at IMI
In other news, insider Roy Twite sold 57,067 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of GBX 1,819 ($22.47), for a total value of £1,038,048.73 ($1,282,174.81). Insiders own 1.41% of the company’s stock.
About IMI
IMI plc, a specialist engineering company, designs and manufactures engineering products in the United Kingdom, Germany, rest of Europe, the United States of America, rest of the Americas, China, rest of Asia Pacific, the Middle East, and Africa. It operates through IMI Precision Engineering, IMI Critical Engineering, and IMI Hydronic Engineering segments.
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