Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Shares Bought by Global X Management Co. LLC
Global X Management Co. LLC raised its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 17,362 shares of the aerospace company’s stock after buying an additional 511 shares during the period. Global X Management Co. LLC’s holdings in Spirit Aerosystems Holdings were worth $1,006,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Seven Bridges Advisors LLC raised its stake in Spirit Aerosystems Holdings by 4.1% in the second quarter. Seven Bridges Advisors LLC now owns 31,148 shares of the aerospace company’s stock valued at $1,805,000 after buying an additional 1,224 shares during the period. ARP Americas LLC purchased a new stake in Spirit Aerosystems Holdings during the second quarter valued at $267,000. Sei Investments Co. raised its stake in Spirit Aerosystems Holdings by 23.8% in the second quarter. Sei Investments Co. now owns 9,052 shares of the aerospace company’s stock valued at $524,000 after buying an additional 1,743 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Spirit Aerosystems Holdings during the second quarter valued at $21,437,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Spirit Aerosystems Holdings by 0.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 13,700 shares of the aerospace company’s stock valued at $794,000 after buying an additional 100 shares during the period. 99.25% of the stock is currently owned by institutional investors.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) opened at 69.81 on Tuesday. Spirit Aerosystems Holdings, Inc. has a 1-year low of $42.26 and a 1-year high of $73.86. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 25.07 and a beta of 1.36. The company’s 50 day moving average price is $62.36 and its 200-day moving average price is $58.49.
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 the Zacks’ consensus estimate of $1.20 by $0.37. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. Equities analysts expect that Spirit Aerosystems Holdings, Inc. will post $5.16 EPS for the current fiscal year.
The business 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 0.57%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s payout ratio is 14.60%.
Spirit Aerosystems Holdings declared that its Board of Directors has initiated a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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Several research firms have weighed in on SPR. Goldman Sachs Group, Inc. (The) raised Spirit Aerosystems Holdings from a “sell” rating to a “neutral” rating and upped their target price for the company from $54.00 to $68.00 in a report on Thursday, August 10th. Zacks Investment Research raised Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $80.00 target price (up previously from $65.00) on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 9th. Cowen and Company reissued an “outperform” rating and issued a $79.00 target price (up previously from $69.00) on shares of Spirit Aerosystems Holdings in a report on Tuesday, August 8th. Finally, Morgan Stanley upped their target price on Spirit Aerosystems Holdings from $66.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.56.
In related news, Director Richard A. Gephardt sold 4,247 shares of Spirit Aerosystems Holdings stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the transaction, the director now directly owns 1,964 shares in the company, valued at approximately $113,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.
Spirit Aerosystems Holdings Company 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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