Suntrust Banks Inc. Has $1.77 Million Stake in Spirit Aerosystems Holdings, Inc. (SPR)
Suntrust Banks Inc. trimmed its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,613 shares of the aerospace company’s stock after selling 326 shares during the period. Suntrust Banks Inc.’s holdings in Spirit Aerosystems Holdings were worth $1,773,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Spirit Aerosystems Holdings by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after buying an additional 616,129 shares during the period. BlackRock Inc. grew its holdings in Spirit Aerosystems Holdings by 2.4% during the second quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock worth $363,874,000 after acquiring an additional 148,240 shares during the period. Goldman Sachs Group Inc. grew its holdings in Spirit Aerosystems Holdings by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock worth $290,100,000 after acquiring an additional 305,946 shares during the period. AQR Capital Management LLC grew its holdings in Spirit Aerosystems Holdings by 12.7% during the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock worth $224,937,000 after acquiring an additional 436,784 shares during the period. Finally, LSV Asset Management grew its holdings in Spirit Aerosystems Holdings by 9.8% during the second quarter. LSV Asset Management now owns 3,468,615 shares of the aerospace company’s stock worth $200,971,000 after acquiring an additional 308,900 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on SPR. Royal Bank Of Canada set a $69.00 target price on Spirit Aerosystems Holdings and gave the company a “sell” rating in a report on Sunday, September 10th. BidaskClub cut shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Cowen and Company reaffirmed a “buy” rating and set a $69.00 price target on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Finally, UBS AG reiterated a “buy” rating and issued a $81.00 price target (up previously from $63.00) on shares of Spirit Aerosystems Holdings in a report on Monday, August 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $75.28.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) opened at 77.72 on Monday. Spirit Aerosystems Holdings, Inc. has a 12 month low of $43.94 and a 12 month high of $79.29. The stock has a market capitalization of $9.20 billion, a P/E ratio of 27.91 and a beta of 1.36. The stock has a 50 day moving average price of $72.33 and a 200 day moving average price of $61.20.
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. On average, analysts anticipate that Spirit Aerosystems Holdings, Inc. will post $5.24 EPS for the current fiscal year.
Spirit Aerosystems Holdings declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in 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 usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is 14.60%.
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In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 10,088 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the sale, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles L. Chadwell sold 6,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the sale, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
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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