Air Capital Aviation Stocks Hitting 2014 Running
January 6, 2014
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  • After a major shake-up in the general aviation market and a record year for the Boeing Co. in the commercial market, some of the Air Capital’s biggest ties to Wall Street are off to a good start in 2014.

    First there is Boeing (NYSE: BA), which was trading at $138.08 Monday morning and rising after the company announced its best year ever in terms of commercial deliveries. That’s about $4 off the company’s 52-week high of $142 and a whopping $65.40 over its 52-week low of $72.68.

    The stock closed at $76.13 on Jan. 7, 2013.

    Boeing’s growth is helping boost Spirit AeroSystems Inc. (NYSE: SPR), which is the city’s largest employer and has work on all Boeing commercial products.

    Spirit was trading at $33.93 on Monday morning — very much on the high side of its 52-week range of $15.80 to $34.47.

    Spirit, which also has work for Airbus, Gulfstream and others, closed at $17.15 on Jan. 7, 2013.

    Jump over to the general aviation side and Wichita’s biggest player — one that is about to get even bigger — is also seeing a better start to this year than last.

    Textron Inc., the parent company of Cessna Aircraft Co. in Wichita, announced late last month plans to buy Wichita-based Beechcraft Corp. for $1.4 billion.

    Textron (NYSE: TXT) was trading at $36.44 on Monday morning, about $0.99 off the 52-week high it set on Dec. 20 after reports of the Beechcraft buy heated up.

    Another stock of note is United Technologies Inc., which was trading at $112.75 Monday morning.

    United Technologies (NYSE: UTX), which has divisions of its interiors, wheels and brakes and sensors, and integrated systems businesses in Wichita under its UTC Aerospace Systems umbrella, has had a 52-week range of $83.25 to $113.94.

    Meanwhile, Precision Castparts Corp. (NYSE: PCP), the new corporate parent of Exacta Aerospace in Wichita, was trading at $265.59 on Monday morning, also well in the upper end of its 52-week range of $180.06 to $271.99.