MMOG.AMoog Inc.

Moog makes the actuators that move aircraft control surfaces, satellite antennas and missile mechanisms.

Precision motion control is a narrow engineering field where failure is unacceptable. An actuator is developed together with the aircraft or satellite and written into its certificate: changing supplier means recertifying the system, which is almost never done over a programme's life.

Hence predictability across decades: a programme won once feeds deliveries and servicing for the equipment's whole service life. Customers are airframe makers, defence and space. This share class carries fewer votes but is the more liquid of the two. Risks: other people's programme schedules, defence budgets and executing complex development. The dividend is small.