JPMorgan Boosts Stake in Hong Kong’s Continental Aerospace, Own Stock Edges Higher
JPMorgan bought roughly 7.56 million shares of Continental Aerospace Technology Holdings (00232.HK) on June 25, lifting its stake to 7%. The bank’s own stock edged up to $334.47 ahead of the holiday weekend.
JPMorgan Chase (JPM) has been active in the Hong Kong market, boosting its stake in Continental Aerospace Technology Holdings (00232.HK) to 7%. Meanwhile, the bank’s own shares edged higher ahead of the weekend close, last trading at $334.47 as of 12:30 a.m. ET on July 4.
- As of 12:30 a.m. ET on July 4 (12:30 p.m. Beijing time), JPMorgan (JPM) was at $334.47, up 0.12% (+$0.40) from the prior close of $334.07.
- Per a Hong Kong Stock Exchange filing on July 2, JPMorgan bought roughly 7.56 million shares of Continental Aerospace (00232.HK) on June 25 at an average on-market price of HK$0.3948 per share, for a total consideration of about HK$2.99 million.
- After the purchase, JPMorgan’s holdings in Continental Aerospace rose to 652 million shares, lifting its stake from 6.92% to 7.00%.
- JPMorgan’s own stock has been on a strong run, with CNN data showing it trading near its 52-week high and above its 200-day moving average.
- In early July, JPMorgan updated its analyst “top picks” list, adding high-dividend stock EPR Properties and removing Broadstone Net Lease, among others.
According to a Hong Kong Stock Exchange filing on July 2, JPMorgan Chase & Co. increased its stake in Hong Kong-listed Continental Aerospace Technology Holdings (00232.HK) on June 25. The transaction involved the purchase of approximately 7.56 million ordinary shares at an average on-market price of HK$0.3948 per share and an average off-market price of HK$0.3952 per share, for a total value of about HK$2.99 million.[Futunn] Following the increase, JPMorgan’s total holdings in Continental Aerospace rose from roughly 644 million shares to 652 million shares, with its long position stake climbing from 6.92% to 7.00%.[Futunn]
JPMorgan’s Own Stock Performance & Market Moves
On its own stock, as of 12:30 a.m. ET on July 4 (12:30 p.m. Beijing time), U.S. markets were closed for the Independence Day holiday weekend. Based on real-time quotes, JPMorgan (JPM) was at $334.47, up 0.12% (+$0.40) from the prior session’s close of $334.07.[CNN] In the previous trading session (July 3), JPMorgan closed at $334.07, gaining 2.06% (+$6.74). CNN data shows the stock is trading near its 52-week high and above its 200-day moving average, indicating strong price momentum.[CNN]
JPMorgan Analysts’ July ‘Top Picks’ List
Beyond its Hong Kong buying, JPMorgan also refreshed its analysts’ monthly “top picks” list in early July. According to CNBC, JPMorgan analysts added EPR Properties and removed Broadstone Net Lease, JFrog, and Palo Alto Networks.[CNBC] The list spans growth, income, value, and short-selling strategies. Separately, JPMorgan recently received a price-target upgrade from Morgan Stanley, which raised its target from $336 to $362.[CNN]
Legal Ruling: JPMorgan Must Keep Paying Former Executive’s Legal Fees
On the legal front, JPMorgan faces a new court ruling. According to Reuters on July 2, a Delaware judge ruled that JPMorgan cannot stop paying the legal fees of former executive Charlie Javice.[Reuters] The ruling stems from an ongoing legal dispute between JPMorgan and Javice; details were not elaborated in the report.
Other Market Moves: Analysts Bullish on SpaceX & Agnico Eagle Mines
Meanwhile, the market also focused on companies beyond JPMorgan. Wedbush analyst Dan Ives set a bold price target for SpaceX.[TheStreet] Separately, Agnico Eagle Mines CEO Ammar Al-Joundi recently purchased $185,000 worth of company stock at $154 per share.[Simply Wall St]
Sources
- CNN — JPM Stock Quote Price and Forecast
- 富途牛牛 — Continental Aerospace Technology Holdings (00232.HK) received an increase of 7,561,700 ordinary shares from JPMorgan
- CNBC — This big dividend-paying stock made JPMorgan’s list of top ideas for July
- Reuters — JPMorgan cannot stop paying Charlie Javice's legal bills, Delaware judge rules
- Simply Wall St — Insider Spends US$185k Buying More Shares In Agnico Eagle Mines
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