IMI (LON:IMI) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

IMI plc (LON:IMI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,837.68 ($24.35) and traded as high as GBX 1,910 ($25.30). IMI shares last traded at GBX 1,885 ($24.97), with a volume of 1,980,589 shares trading hands.

Analyst Ratings Changes

Separately, Royal Bank of Canada increased their target price on IMI from GBX 2,250 ($29.81) to GBX 2,400 ($31.80) and gave the stock an “outperform” rating in a report on Monday, March 3rd.

IMI Stock Performance

The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80. The stock’s 50 day simple moving average is GBX 1,834.65 and its two-hundred day simple moving average is GBX 1,837.68. The company has a market capitalization of £4.78 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.12 and a beta of 1.08.

IMI (LON:IMI) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 122.50 ($1.62) earnings per share (EPS) for the quarter. IMI had a return on equity of 23.85% and a net margin of 11.46%. As a group, research analysts expect that IMI plc will post 137.9737609 earnings per share for the current year.

IMI Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 16th. Investors of record on Thursday, April 3rd will be given a GBX 21.10 ($0.28) dividend. This represents a yield of 1.04%. This is a positive change from IMI’s previous dividend of $10.00. The ex-dividend date is Thursday, April 3rd. IMI’s dividend payout ratio (DPR) is presently 29.72%.

Insiders Place Their Bets

In other news, insider Roy Twite sold 49,259 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of GBX 1,962 ($25.99), for a total value of £966,461.58 ($1,280,420.75). Company insiders own 1.52% of the company’s stock.

IMI Company Profile

IMI plc is a specialist engineering company operating in fluid and motion control markets. We combine our deep engineering knowledge with strong applications expertise to develop solutions for the most acute industry problems. We help our customers become safer, more sustainable and more productive. IMI employs around 10,000 people, has manufacturing facilities in 19 countries and operates a global service network.