Shares of Spirax-Sarco Engineering plc (LON:SPX – Get Free Report) have been given an average rating of “Reduce” by the eight research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 9,158 ($122.50).
A number of equities analysts have issued reports on SPX shares. Shore Capital reaffirmed a “sell” rating on shares of Spirax-Sarco Engineering in a report on Friday, August 30th. Berenberg Bank reiterated a “hold” rating and issued a GBX 8,150 ($109.02) price target on shares of Spirax-Sarco Engineering in a research report on Wednesday, September 25th. Jefferies Financial Group cut their target price on Spirax-Sarco Engineering from GBX 9,690 ($129.61) to GBX 9,580 ($128.14) and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada cut their target price on Spirax-Sarco Engineering from GBX 8,000 ($107.01) to GBX 7,000 ($93.63) and set an “underperform” rating on the stock in a research report on Thursday, August 15th.
Check Out Our Latest Analysis on SPX
Spirax-Sarco Engineering Price Performance
Spirax-Sarco Engineering Cuts Dividend
The business also recently declared a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be issued a GBX 47.50 ($0.64) dividend. This represents a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, October 17th. Spirax-Sarco Engineering’s payout ratio is currently 6,230.77%.
Insider Activity at Spirax-Sarco Engineering
In related news, insider Kevin J. Thompson acquired 640 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of GBX 7,655 ($102.39) per share, for a total transaction of £48,992 ($65,532.37). 0.73% of the stock is owned by corporate insiders.
About Spirax-Sarco Engineering
Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. 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 tubing, and specialty filling systems and products for single-use applications.
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