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Smiths Group plc ( (GB:SMIN) ) has issued an update.
Smiths Group plc has announced the sale of its Smiths Interconnect division to Molex Electronic Technologies Holdings, LLC for £1.3 billion, aligning with its strategy to streamline operations and enhance shareholder returns. This transaction is part of Smiths’ broader strategic plan to focus on becoming a high-performing industrial engineering company, with proceeds from the sale expected to be returned to shareholders and updates on the use of funds to be provided in the upcoming trading statement.
The most recent analyst rating on (GB:SMIN) stock is a Hold with a £23.30 price target. To see the full list of analyst forecasts on Smiths Group plc stock, see the GB:SMIN Stock Forecast page.
Spark’s Take on GB:SMIN Stock
According to Spark, TipRanks’ AI Analyst, GB:SMIN is a Outperform.
Smiths Group plc’s strong financial performance and strategic corporate actions, such as share buybacks, significantly bolster its stock score. However, the high P/E ratio suggests a relatively expensive valuation, which slightly tempers the overall score.
To see Spark’s full report on GB:SMIN stock, click here.
More about Smiths Group plc
Smiths Group plc is a leading industrial engineering company with a legacy spanning over 170 years. The company focuses on solving complex challenges in the energy, industrials, and construction sectors, addressing global needs such as decarbonisation and energy efficiency. Smiths Group is listed on the London Stock Exchange and operates in over 50 countries with approximately 16,000 employees.
Average Trading Volume: 937,389
Technical Sentiment Signal: Buy
Current Market Cap: £7.68B
For a thorough assessment of SMIN stock, go to TipRanks’ Stock Analysis page.