Meggitt (MGGT)

Sector:

Defense and Aeronautics

Index:

FTSE 100

281.50p
   
  • Change Today:
      13.10p
  • 52 Week High: 697.40p
  • 52 Week Low: 217.00p
  • Currency: UK Pounds
  • Shares Issued: 777.57m
  • Volume: 6,033,361
  • Market Cap: £2,188.86m
  • RiskGrade: 637

Boeing suppliers hit by 737 MAX suspension

By Frank Prenesti

Date: Tuesday 17 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Shares in global suppliers to Boeing fell across Europe on Tuesday as the aircraft maker said it was suspending production of its controversial 737 MAX passenger jet.
In the UK shares in engineering firms Meggitt, Senior, Ultra Electornics and Melrose were all lower on supply chain worries and renewed no-deal Brexit fears.

French jet engine maker Safran and engineer Thales fell, along with Belgian carbon composite manufacturer Solvay.

Meggitt makes the fire detector system for the Max engine and auxiliary power unit, Ultra Electronics supplies wing ice protection systems and Melrose is contracted to provide windows for the passenger cabin of the Max until the end of 2025. Senior makes oxygen tubes and other engine components for Boeing.

Safran supplies around 40 engines a month to Boeing, according to broker Credit Suisse, which added that Solvay had 20% exposure to the aerospace sector with both Boeing and Airbus as major customers.

"So if production of the Max is halted this is bad news for suppliers. The worry is that it will cancel the production of the Max completely," said Markets.com analyst Neil Wilson.

Shares in other UK Boeing suppliers, such as QinetiQ, were down, as were airline stocks. British Airways owner International Airlines Group, which signed a letter of intent to buy 200 Max jets, and Ryanair, which has ordered 135 Max planes, were both in the red.

Boeing suspended production of the grounded aircraft after the US Federal Aviation Administration last week said it would not approve a return to service before 2020. More than 700 Max jets were grounded globally after two fatal crashes killed 346 people.

Boeing suppliers and revenue share provided by Credit Suisse:

Thales ~3%

Safran ~7%

Senior ~12%

Meggit ~5%

MTU Aero, ~1.65%

Ultra Electronics ~5%

AMG Metals ~2.3%

Dassault ~1%

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Meggitt Market Data

Currency UK Pounds
Share Price 281.50p
Change Today 13.10p
% Change 4.88 %
52 Week High 697.40p
52 Week Low 217.00p
Volume 6,033,361
Shares Issued 777.57m
Market Cap £2,188.86m
RiskGrade 637

Meggitt Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.65% above the market average57.65% above the market average57.65% above the market average57.65% above the market average57.65% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
60.35% below the market average60.35% below the market average60.35% below the market average60.35% below the market average60.35% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average
Income
67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Growth
4.97% above the market average4.97% above the market average4.97% above the market average4.97% above the market average4.97% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 8
Sell 0
Strong Sell 4
Total 20
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Meggitt Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 21-Mar-19
Paid 04-Oct-19 03-May-19
Amount 5.55p 11.35p

Trades for 09-Apr-2020

Time Volume / Share Price
17:05 7,200 @ 282.56p
16:35 1,987,993 @ 281.50p
16:29 60 @ 283.40p
16:29 7 @ 282.40p
16:29 270 @ 282.70p

Meggitt Key Personnel

CEO Tony Wood

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