IMI (LON:IMI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

IMI plc (LON:IMI) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,855.65 ($24.10) and traded as high as GBX 1,900 ($24.67). IMI shares last traded at GBX 1,887 ($24.50), with a volume of 584,931 shares traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada increased their price target on IMI from GBX 2,250 ($29.22) to GBX 2,400 ($31.16) and gave the company an “outperform” rating in a report on Monday, March 3rd.

IMI Stock Performance

The business has a 50-day simple moving average of GBX 1,958.39 and a 200-day simple moving average of GBX 1,856.28. The firm has a market capitalization of £4.80 billion, a PE ratio of 19.40, a P/E/G ratio of 1.12 and a beta of 1.08. The company has a debt-to-equity ratio of 68.33, a current ratio of 1.36 and a quick ratio of 0.80.

IMI (LON:IMI) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 122.50 ($1.59) earnings per share for the quarter. IMI had a net margin of 11.46% and a return on equity of 23.85%. Equities research analysts expect that IMI plc will post 137.9737609 earnings per share for the current fiscal year.

IMI Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 3rd will be issued a GBX 21.10 ($0.27) dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from IMI’s previous dividend of $10.00. This represents a yield of 1.04%. IMI’s payout ratio is presently 29.72%.

Insider Activity

In other news, insider Roy Twite sold 49,259 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of GBX 1,962 ($25.48), for a total transaction of £966,461.58 ($1,254,981.92). Insiders have acquired 22 shares of company stock worth $42,388 in the last ninety days. Company insiders own 1.52% of the company’s stock.

About IMI

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.