State Board of Administration of Florida Retirement System lowered its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,915 shares of the aerospace company’s stock after selling 1,852 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Spirit AeroSystems worth $11,168,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Spirit AeroSystems in the third quarter valued at about $70,756,000. OZ Management LP raised its stake in Spirit AeroSystems by 33.1% in the third quarter. OZ Management LP now owns 2,711,165 shares of the aerospace company’s stock valued at $248,533,000 after purchasing an additional 674,692 shares in the last quarter. Scopia Capital Management LP raised its stake in Spirit AeroSystems by 6.1% in the third quarter. Scopia Capital Management LP now owns 5,361,113 shares of the aerospace company’s stock valued at $491,453,000 after purchasing an additional 310,584 shares in the last quarter. FMR LLC raised its stake in Spirit AeroSystems by 12.9% in the third quarter. FMR LLC now owns 2,321,501 shares of the aerospace company’s stock valued at $212,811,000 after purchasing an additional 265,361 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in Spirit AeroSystems by 111.9% in the third quarter. Artemis Investment Management LLP now owns 429,621 shares of the aerospace company’s stock valued at $39,386,000 after purchasing an additional 226,848 shares in the last quarter. 97.62% of the stock is owned by institutional investors.
A number of research analysts recently commented on SPR shares. Wells Fargo & Co set a $105.00 price target on Spirit AeroSystems and gave the company a “buy” rating in a research note on Thursday, November 1st. Credit Suisse Group boosted their price target on Spirit AeroSystems from $102.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Bank of America raised Spirit AeroSystems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $100.00 to $105.00 in a research note on Thursday, November 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $95.00 price target (down previously from $100.00) on shares of Spirit AeroSystems in a research note on Monday, December 17th. Finally, Cowen reissued a “buy” rating and set a $100.00 target price on shares of Spirit AeroSystems in a research note on Friday, January 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $104.23.
NYSE:SPR opened at $94.21 on Tuesday. The stock has a market cap of $9.92 billion, a PE ratio of 15.05, a PEG ratio of 1.61 and a beta of 1.28. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 1.67. Spirit AeroSystems Holdings, Inc. has a 1-year low of $64.48 and a 1-year high of $96.77.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Friday, February 1st. The aerospace company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Spirit AeroSystems had a return on equity of 56.15% and a net margin of 8.54%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 earnings per share. As a group, sell-side analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 7.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Monday, March 18th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, March 15th. Spirit AeroSystems’s dividend payout ratio (DPR) is currently 7.67%.
In other news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $82.90, for a total transaction of $41,450.00. Following the sale, the director now directly owns 1,493 shares in the company, valued at $123,769.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stacy Cozad sold 3,200 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $93.39, for a total value of $298,848.00. Following the sale, the senior vice president now owns 21,036 shares in the company, valued at $1,964,552.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,342 shares of company stock worth $2,537,672. Company insiders own 0.87% of the company’s stock.
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Spirit AeroSystems 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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