|Bid||680.60 x 0|
|Ask||680.60 x 0|
|Day's range||680.40 - 686.20|
|52-week range||484.30 - 701.80|
|Beta (5Y monthly)||0.15|
|PE ratio (TTM)||36.78|
|Earnings date||25 Feb 2020|
|Forward dividend & yield||0.17 (2.44%)|
|Ex-dividend date||05 Sep 2019|
|1y target est||577.07|
Meggitt PLC, an international company specializing in high-performance components and sub-systems for the aerospace, defense and selected energy markets, plans to significantly increase its commercial and military aircraft carbon brake manufacturing capacity at the 190 Corporate Drive facility in Danville, KY. The expansion will create up to 83 full-time jobs with a nearly $82.7 million investment.
The company, which supplies aerospace components and wheels and brakes for military fighter programmes, said it expects full year organic revenue growth between 6% and 7%, up from an earlier view of 4% to 6%. Meggitt is a key supplier to Airbus and Boeing, which earlier this year said it would cut production of its 737 MAX aircraft as it struggles with the worldwide grounding of the narrowbody jet following two fatal crashes in less than five months.
Senator Ron Wyden visited Meggitt’s Airframes Systems, Power & Motion facility in Milwaukie, Oregon. The Senator toured the facility and held a roundtable discussion with Meggitt’s management and employees regarding the United States’ involvement as it related to defense, workforce issues, and international tariffs. “During my visit with Meggitt, I was impressed by all that I heard from employees about their relentless innovation in power generation and aerospace and defense products,” said Senator Wyden.
Meggitt said civil aerospace revenue grew 7 percent in the quarter on an organic basis, while defence revenue rose 18 percent, boosted by demand for engine composites, brakes and training systems. Revenue at Meggitt's energy unit was hurt by lower demand in the nuclear sector, it said. Meggitt has said it would take around two years before its operating margins significantly improve.
Most European stocks slid on Monday amid losses across most sectors, with German bank and real estate shares drawing investor attention as did European suppliers of U.S. planemaker Boeing following a production cut announced late on Friday. "In light of the strong rally and the multi-month highs that were achieved in European indices recently, some investors are now taking a breather," David Madden, a market analyst at CMC Markets UK, wrote in a note. Deutsche Bank, with whom Commerzbank is exploring a merger, dropped 1.9 percent.
Britain's main index lost ground on Monday after rounding off a solid week while investors awaited fresh updates on the Brexit process, and industrials slipped on a read-across from Boeing cutting 737 aircraft production. The exporter-heavy FTSE 100, which had scaled six month highs for the most of last week, was down 0.1 percent by 0718 GMT, as a stronger pound also weighed, while the midcaps also dipped by the same amount.
European shares were firmly in the red on Tuesday as the optimism about U.S.-China trade talks that swept stocks to fresh October highs cooled, with London's FTSE 100 lagging the broader markets as the sterling rallied. The pan-European STOXX 600 was down 0.2 percent by 1002 GMT, in line with France's CAC 40 and Germany's trade-sensitive DAX. The FTSE 100 was down 1.1 percent to its lowest since Feb. 11 as sterling rallied to one-month highs after reports that Prime Minister Theresa May is considering delaying the March 29 deadline for Britain's exit from the European Union.
Britain's FTSE 100 fell on Tuesday as miner Fresnillo slumped after poor results and the sterling rallied on growing signs of a Brexit delay, though online grocer Ocado soared after confirming joint venture talks with Marks & Spencer. The FTSE 100 ended 0.5 percent lower after steep losses in the morning as the index's stocks, which book much of their earnings in dollars, were marred by the pound surging to four-month highs.