Raymond James Trust N.A. Acquires Shares of 3,459 Spirit Aerosystems Holdings, Inc. (SPR)
Raymond James Trust N.A. acquired a new position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,459 shares of the aerospace company’s stock, valued at approximately $200,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after acquiring an additional 160 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 222 shares during the last quarter. Parametrica Management Ltd bought a new position in Spirit Aerosystems Holdings during the 2nd quarter worth approximately $217,000. PNC Financial Services Group Inc. boosted its stake in Spirit Aerosystems Holdings by 20.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock worth $247,000 after acquiring an additional 710 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in Spirit Aerosystems Holdings during the 1st quarter worth approximately $247,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on SPR. BidaskClub raised shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Cowen and Company reaffirmed an “outperform” rating and issued a $79.00 price target (up previously from $69.00) on shares of Spirit Aerosystems Holdings in a research note on Tuesday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $65.00) on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $86.00 price target on shares of Spirit Aerosystems Holdings in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $72.94.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) opened at 78.90 on Friday. The stock has a 50 day moving average of $72.33 and a 200-day moving average of $61.20. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 28.33 and a beta of 1.31. Spirit Aerosystems Holdings, Inc. has a 12 month low of $42.37 and a 12 month high of $79.21.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $1.21 EPS. Spirit Aerosystems Holdings’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts forecast that Spirit Aerosystems Holdings, Inc. will post $5.22 EPS for the current year.
Spirit Aerosystems Holdings declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is currently 14.60%.
In related news, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the transaction, the director now directly owns 23,828 shares in the company, valued at approximately $1,822,603.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John A. Pilla sold 10,088 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the completion of the transaction, the senior vice president now owns 93,258 shares in the company, valued at $6,957,046.80. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.
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Spirit Aerosystems Holdings Profile
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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