Meggitt’s FVE Raised as Rising Aircraft Deliveries and Growing Shipset Value Fuel Aerospace Profit
After updating our sales and profit estimates for Meggitt, along with an in-depth analysis of the firm’s exposure to our large-jet delivery forecasts, and accounting for the time value of money, we are increasing our fair value estimate to GBX 630 per share (from GBX 530). We maintain our narrow moat rating. Our analysis of Morningstar's proprietary delivery forecasts for manufacturers Airbus, Boeing, Bombardier, and Embraer leads us to forecast an average annual growth rate of jet deliveries wi...Meggitt is the parent company of a group whose principal activities are the design and manufacture of components and sub-systems for aerospace, defense and other markets. Co. has five segments: Meggitt Aircraft Braking Systems, a providers of aircraft wheels, brakes and brake control systems; Meggitt Control Systems, which comprised of aircraft fire protection and control systems; Meggitt Polymers and Composites, which comprised of engine and aerodynamic seals, flexible fuel tanks and fuel systems; Meggitt Sensing Systems, a provider sensing and monitoring systems for aircraft; and Meggitt Equipment Group, which include unique heat transfer equipment for hydrocarbon processing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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