Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Invests $1.36 Million in Spirit AeroSystems Holdings, Inc. (SPR) Stock
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,572 shares of the aerospace company’s stock, valued at approximately $1,355,000.
A number of other hedge funds have also recently made changes to their positions in SPR. Strs Ohio acquired a new stake in shares of Spirit AeroSystems in the 4th quarter worth $130,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Spirit AeroSystems in the 4th quarter worth $166,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $218,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $227,000. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $228,000. Institutional investors own 97.39% of the company’s stock.
A number of analysts have issued reports on SPR shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $86.00 target price on shares of Spirit AeroSystems in a research note on Tuesday, October 31st. Seaport Global Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of Spirit AeroSystems in a research note on Thursday, January 18th. Berenberg Bank started coverage on Spirit AeroSystems in a research note on Tuesday, November 7th. They issued a “buy” rating and a $100.00 target price for the company. ValuEngine downgraded Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, Zacks Investment Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Spirit AeroSystems currently has an average rating of “Buy” and an average price target of $95.50.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.10. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Spirit AeroSystems had a return on equity of 33.80% and a net margin of 5.08%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. analysts predict that Spirit AeroSystems Holdings, Inc. will post 6.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Investors of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s payout ratio is 7.48%.
Spirit AeroSystems declared that its board has authorized a stock repurchase plan on Friday, February 2nd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the completion of the sale, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by company insiders.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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