Morgan Stanley began coverage on shares of Melrose Industries (LON:MRO – Free Report) in a research report report published on Friday morning, MarketBeat reports. The firm issued an equal weight rating and a GBX 500 ($6.54) price target on the stock.
Separately, Royal Bank of Canada upgraded Melrose Industries to an outperform rating and set a GBX 650 ($8.50) price objective on the stock in a research note on Monday, July 8th.
View Our Latest Research Report on Melrose Industries
Melrose Industries Trading Up 4.1 %
Melrose Industries Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 8th will be paid a GBX 2 ($0.03) dividend. This represents a yield of 0.34%. The ex-dividend date of this dividend is Thursday, August 8th. Melrose Industries’s dividend payout ratio is currently -20,000.00%.
Insider Activity at Melrose Industries
In other news, insider Gillian Elcock acquired 3,680 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of GBX 453 ($5.92) per share, for a total transaction of £16,670.40 ($21,799.92). In related news, insider Gillian Elcock purchased 3,680 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of GBX 453 ($5.92) per share, for a total transaction of £16,670.40 ($21,799.92). Also, insider Matthew Gregory purchased 9,740 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of GBX 510 ($6.67) per share, for a total transaction of £49,674 ($64,958.81). 0.99% of the stock is currently owned by company insiders.
About Melrose Industries
Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.
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