Spirax-Sarco Engineering plc (SPX) Insider Buys £84,675 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Jane Kingston acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was acquired at an average cost of GBX 5,645 ($79.24) per share, for a total transaction of £84,675 ($118,858.79).

Shares of SPX stock opened at GBX 5,645 ($79.24) on Friday. Spirax-Sarco Engineering plc has a twelve month low of GBX 4,681 ($65.71) and a twelve month high of GBX 6,155 ($86.40).

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The company also recently announced a dividend, which will be paid on Friday, May 25th. Shareholders of record on Thursday, April 26th will be issued a GBX 62 ($0.87) dividend. This represents a dividend yield of 1.04%. This is a boost from Spirax-Sarco Engineering’s previous dividend of $25.50. The ex-dividend date is Thursday, April 26th.

Several brokerages have commented on SPX. Royal Bank of Canada upped their price objective on Spirax-Sarco Engineering from GBX 6,200 ($87.03) to GBX 6,500 ($91.24) and gave the company an “outperform” rating in a research report on Friday, March 16th. Barclays upped their price objective on Spirax-Sarco Engineering from GBX 6,100 ($85.63) to GBX 6,300 ($88.43) and gave the company an “equal weight” rating in a research report on Friday, March 16th. Liberum Capital upped their price objective on Spirax-Sarco Engineering from GBX 5,070 ($71.17) to GBX 5,700 ($80.01) and gave the company a “hold” rating in a research report on Friday, January 12th. JPMorgan Chase cut their price objective on Spirax-Sarco Engineering from GBX 5,700 ($80.01) to GBX 5,500 ($77.20) and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on Spirax-Sarco Engineering from GBX 6,410 ($89.98) to GBX 6,580 ($92.36) and gave the company an “overweight” rating in a research report on Tuesday, March 20th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Spirax-Sarco Engineering currently has a consensus rating of “Hold” and an average target price of GBX 6,167.27 ($86.57).

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About Spirax-Sarco Engineering

Spirax-Sarco Engineering plc is a United Kingdom-based industrial engineering company. The Company’s segments include Europe, Middle East & Africa; Asia Pacific; Americas; Steam specialties business, and Watson-Marlow Fluid Technology Group (Watson-Marlow). The Company’s businesses include Spirax Sarco and Watson-Marlow.

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