Meggitt (LON: MGGT) is a British firm that manufactures sub-systems and components for the aerospace, energy, and defence industries.
The aerospace industry is their biggest customer. Many of the aircraft flying today rely on Meggitt security, sensor, and control systems.
Read on for more information on how to buy shares in Meggitt.
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Step 1: Choose a broker
Meggitt is listed on the London Stock Exchange, which your broker must have access to if you are to buy shares in the company. A broker may have access to many other international markets too in addition to London.
The brokerage fee, foreign exchange fee, the option to buy fractional shares (so you can invest in some of the more expensive shares), and what stock markets and instruments are available are some of the more important things to look for when deciding who to trade with.
If you are a beginner, the overall trading experience, i.e. how easy it is to understand and use, plus access to market research and educational tools, is also worth considering.
Some brokers offer demo accounts, meaning you can practice with their trading platform before depositing funds.
Step 2: Fund your account
You can deposit funds into your investment account using a bank transfer or your debit card. Some brokers may allow you to use a credit card as well, although this is less available due to fraud risk.
Depending on what funding method was used, it can take a few days to clear into your account before you can start trading. This is a factor worth bearing in mind if you want to make a trade today.
Step 3: Set your budget
Investing in shares is risky, so you should never invest more than you can afford to lose.
Since you can invest in more shares over time when your budget and market conditions permit.
Step 4: Invest in shares or ETFs?
ETFs (Exchange Traded Funds) are a type of diversified fund, which holds shares in several companies. They are ideal for passive investors and beginners who don’t want to or can’t trade actively.
ETFs with Meggit shares include iShares Core MSCI EAFE ETF (IEFA), Schwab International Equity ETF (SCHF), Stock Account Class R1 (QCSTRX), and JPMorgan BetaBuilders Europe ETF (BBEU).
Step 5: Set up an order
Market orders are the most basic order type, meaning your broker will buy shares in Meggit at the next available price. Note that there can be a slight price difference between what was quoted and what you pay in a fast-moving market.
Let's imagine you want to acquire Meggitt shares and you have a target price in mind. You can configure an order to trigger once the price reaches your goal. You might also be able to set up a recurring order to purchase shares regularly, e.g. once a month.
Step 6: Submit your order
With everything configured and checked, place your order to buy.
As well as checking the share price regularly, you need to keep an eye on what is going on within their industry. Making yourself aware of what Meggitt and their main competitors are doing is an effective way to do this. News stories, company statements and announcements are all good sources of this type of information that will help you navigate and understand what affects the movement of your share price.
Being a component supplier in the aerospace sector, Meggitt's performance may be affected by sales at Airbus (EPA: AIR) and Boeing (NYSE: BA).
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