Amundi Asset Management US Inc. grew its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 120.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,729,865 shares of the aerospace company’s stock after acquiring an additional 1,493,791 shares during the quarter. Amundi Asset Management US Inc.’s holdings in Spirit AeroSystems were worth $132,807,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rocky Mountain Advisers LLC boosted its holdings in Spirit AeroSystems by 1,141.3% during the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the aerospace company’s stock worth $28,000 after buying an additional 525 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Spirit AeroSystems during the first quarter worth about $35,000. Neo Ivy Capital Management bought a new position in Spirit AeroSystems during the fourth quarter worth about $41,000. Captrust Financial Advisors bought a new position in Spirit AeroSystems during the first quarter worth about $54,000. Finally, Fifth Third Bancorp boosted its holdings in Spirit AeroSystems by 119.4% during the first quarter. Fifth Third Bancorp now owns 1,433 shares of the aerospace company’s stock worth $70,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
A number of brokerages have issued reports on SPR. Credit Suisse Group raised their target price on Spirit AeroSystems from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Cowen lifted their price objective on Spirit AeroSystems from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, June 22nd. Finally, Zacks Investment Research upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $47.50.
Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Tuesday, May 4th. The aerospace company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.36). Spirit AeroSystems had a negative net margin of 27.23% and a negative return on equity of 64.00%. The firm had revenue of $901.00 million during the quarter, compared to analyst estimates of $883.40 million. During the same period in the prior year, the business posted ($0.79) EPS. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year. Research analysts forecast that Spirit AeroSystems Holdings, Inc. will post -2.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Monday, June 14th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Friday, June 11th. Spirit AeroSystems’s dividend payout ratio (DPR) is -0.70%.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc designs and manufactures commercial aerostructures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and other structure components of the fuselage, such as floor beams.
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