Franklin Resources Inc. reduced its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,123 shares of the aerospace company’s stock after selling 15,421 shares during the quarter. Franklin Resources Inc.’s holdings in Spirit AeroSystems were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of Spirit AeroSystems by 14.0% in the fourth quarter. Macquarie Group Ltd. now owns 183,200 shares of the aerospace company’s stock worth $15,984,000 after purchasing an additional 22,430 shares during the period. Toronto Dominion Bank bought a new position in shares of Spirit AeroSystems in the fourth quarter worth approximately $609,000. Maverick Capital Ltd. boosted its position in shares of Spirit AeroSystems by 56.2% in the fourth quarter. Maverick Capital Ltd. now owns 108,600 shares of the aerospace company’s stock worth $9,475,000 after purchasing an additional 39,080 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of Spirit AeroSystems in the fourth quarter worth approximately $970,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Spirit AeroSystems in the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 95.62% of the company’s stock.
A number of research firms have weighed in on SPR. Barclays began coverage on shares of Spirit AeroSystems in a research report on Thursday, March 29th. They issued an “overweight” rating and a $117.00 price target for the company. ValuEngine lowered shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Vertical Research upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Monday, March 19th. Finally, Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Spirit AeroSystems in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Spirit AeroSystems presently has a consensus rating of “Buy” and a consensus price target of $98.79.
Shares of Spirit AeroSystems opened at $88.10 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 0.98. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $55.46 and a fifty-two week high of $105.20. The firm has a market cap of $10.15 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.31 and a beta of 1.48.
Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, May 2nd. The aerospace company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.25). Spirit AeroSystems had a return on equity of 35.11% and a net margin of 4.82%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company posted $1.17 EPS. Spirit AeroSystems’s revenue was up 2.5% compared to the same quarter last year. research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Monday, June 18th will be given a dividend of $0.12 per share. This is a positive change from Spirit AeroSystems’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, June 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. Spirit AeroSystems’s dividend payout ratio is currently 7.48%.
In related news, Director Richard A. Gephardt sold 8,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $89.33, for a total transaction of $714,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Laura Wright purchased 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were acquired at an average cost of $84.46 per share, for a total transaction of $101,352.00. Following the purchase, the director now owns 3,187 shares of the company’s stock, valued at $269,174.02. The disclosure for this purchase can be found here. 0.87% of the stock is currently owned by corporate insiders.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.
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