James Guyette, president and chief executive of Rolls-Royce's North American operations, has pocketed about £850,000 from the sale of a chink of his holding in the aeroplane engine maker.
He sold 122,560 shares at 696p a time, but still has 274,796.
The sale of the shares comes in the midst of a strong run for Rolls-Royce shares, following an announcement on 13 October that it will dispose of its interest in International Aero Engines (IAE) - a joint venture between Pratt & Whitney (a United Technologies Corp company), MTU Aero Engines (MTU) and Japanese Aero Engine Corporation (JAEC) - to Pratt & Whitney for $1.5bn, in addition to further payments for every hour IAE engines are flown over the next 15 years.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Furthermore, the company unveiled a new partnership with Pratt & Whitney to develop engines to power future mid-size aircraft which hold between 120 and 230 passengers.
Guyette works in Rolls-Royce's North American headquarters in Chantilly, Virginia. He has been with the company since 1998. He is also a director of the discount website priceline.com.
Top Director Buys
Allied Gold Mining (ALD)
Director name: Mr Stephen Kelly
Amount purchased: 79,166 @ 126.00p
Value: £99,749
London Finance & Investment Group (LFI)
Director name: Mr D C Marshall
Amount purchased: 280,000 @ 18.99p
Value: £53,172
Quindell Portfolio (QPP)
Director name: Mr Robert Terry
Amount purchased: 2,000,000 @ 2.50p
Value: £50,000
Avingtrans (AVG)
Director name: Mr Roger McDowell
Amount purchased: 90,000 @ 47.75p
Value: £42,975
Quindell Portfolio (QPP)
Director name: Mr Laurence Moorse
Amount purchased: 500,000 @ 2.50p
Value: £12,500
Top Director Sells
Rolls-Royce Group (RR.)
Director name: Mr James M Guyette
Amount sold: 122,560 @ 696.00p
Value: £853,018
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
