Sterling Capital Management LLC increased its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,387 shares of the aerospace company’s stock after acquiring an additional 2,500 shares during the quarter. Sterling Capital Management LLC’s holdings in Spirit AeroSystems were worth $3,960,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. raised its stake in Spirit AeroSystems by 67.5% during the third quarter. Alyeska Investment Group L.P. now owns 554,578 shares of the aerospace company’s stock worth $43,102,000 after acquiring an additional 223,413 shares during the period. Caxton Associates LP acquired a new stake in Spirit AeroSystems during the third quarter worth about $420,000. Schwab Charles Investment Management Inc. raised its stake in Spirit AeroSystems by 2.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 405,486 shares of the aerospace company’s stock worth $31,515,000 after acquiring an additional 9,822 shares during the period. Toronto Dominion Bank acquired a new stake in Spirit AeroSystems during the fourth quarter worth about $609,000. Finally, Parametric Portfolio Associates LLC raised its stake in Spirit AeroSystems by 42.7% during the third quarter. Parametric Portfolio Associates LLC now owns 405,366 shares of the aerospace company’s stock worth $31,505,000 after acquiring an additional 121,294 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.
SPR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Vertical Research upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Monday. Canaccord Genuity restated a “buy” rating and issued a $115.00 target price on shares of Spirit AeroSystems in a research report on Monday, January 29th. Robert W. Baird restated a “buy” rating and issued a $129.00 target price on shares of Spirit AeroSystems in a research report on Monday, January 29th. Finally, ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $98.89.
In related news, SVP Stacy Cozad sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total transaction of $100,617.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William Edward Brown sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total transaction of $507,980.00. Following the sale, the senior vice president now owns 21,664 shares of the company’s stock, valued at $2,000,887.04. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
Spirit AeroSystems Holdings, Inc. (NYSE SPR) opened at $83.46 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9,886.13, a P/E ratio of 27.64, a PEG ratio of 1.24 and a beta of 1.45. Spirit AeroSystems Holdings, Inc. has a 1-year low of $51.85 and a 1-year high of $105.20.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.10. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Spirit AeroSystems had a net margin of 5.08% and a return on equity of 34.03%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Investors of record on Monday, March 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, March 16th. Spirit AeroSystems’s payout ratio is 13.25%.
Spirit AeroSystems announced that its Board of Directors has authorized a share buyback program on Friday, February 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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Spirit AeroSystems 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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