Meggitt´s Sir Nigel Rudd adds to stake

He was followed by his spouse who picked-up another 1,050 shares at an identical price, the company said in a statement.

In a trading update issued on 15 November, the company, which specialises in systems for the aerospace, defence and energy markets, reported that third quarter revenue was up by 6% on an organic basis and by 28% in reported terms, which included mergers and acquisitions as well as foreign-exchange movements.

“Current trading is in line with our expectations and, having increased shipset content on key growth platforms, we are confident that we are well positioned to deliver organic revenue growth ahead of our end markets over the medium term,” Meggitt chief Stephen Young said.

However, JP Morgan sounded a skeptical note, trimming its target price on the shares from 470p to 465p the next day.

"Meggitt has left itself a lot to do in Q4 16 and it could miss its FY16 guidance. However, we suspect investors are more concerned about the positives/negatives for MGGT of Mr Trump’s election win," the investment bank said.

On the subject of Mr.Trump, and in the same note, JP Morgan pointed out how 35% of the firm´s sales came from Defence and 50% of its revenues from the US, with the latter meaning it would benefit should the new US President follow-through on his promise to cut corporate taxes.

However, the impact from lower energy prices was more nuanced. If the trigger was greater oil supply that could benefit its civil aerospace aftermarket, although a drop in crude prices was also a negative for its energy arm.

As well, the large jet civil aero cycle was softening and Trump´s anti-trade/anti-immigration stance would not help matters any, JP Morgan said.

Shares in Meggitt closed the session at 454.8p, near their 52-week high of 482.0p but well below the five-year highs of 594p hit on 17 March 2015.

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Kingspan Group (KGP)
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Riverstone Energy Limited (RSE)
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Riverstone Energy Limited (RSE)
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Safestyle Uk (SFE)
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Safestyle Uk (SFE)
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Hansteen Holdings (HSTN)
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El Oro Ltd (ELX)
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Majestic Wine (WINE)
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Hansteen Holdings (HSTN)
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Meggitt (MGGT)
Director name: Rudd,Nigel
Amount purchased: 1,450 @ 454.30p
Value: £6,587.35

Strategic Minerals (SML)
Director name: Peters,John
Amount purchased: 1,300,000 @ 0.43p
Value: £5,558.93

Meggitt (MGGT)
Director name: Rudd,Nigel
Amount purchased: 1,050 @ 454.30p
Value: £4,770.15

Communisis (CMS)
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Kier Group (KIE)
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Kier Group (KIE)
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Kier Group (KIE)
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Amount purchased: 10 @ 1,402.13p
Value: £140.21

Kier Group (KIE)
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Amount purchased: 10 @ 1,402.13p
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Mitchells & Butlers (MAB)
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Value: £135.84

Kier Group (KIE)
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