Spirit Aerosystems Holdings, Inc. (SPR) Position Cut by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC reduced its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,058,365 shares of the aerospace company’s stock after selling 83,720 shares during the period. TIAA CREF Investment Management LLC owned 0.89% of Spirit Aerosystems Holdings worth $61,322,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. purchased a new position in Spirit Aerosystems Holdings during the second quarter worth about $200,000. Riverhead Capital Management LLC boosted its stake in Spirit Aerosystems Holdings by 9.3% during the second quarter. Riverhead Capital Management LLC now owns 51,039 shares of the aerospace company’s stock worth $2,957,000 after buying an additional 4,346 shares during the period. Capital Fund Management S.A. boosted its stake in Spirit Aerosystems Holdings by 36.4% during the second quarter. Capital Fund Management S.A. now owns 120,508 shares of the aerospace company’s stock worth $6,982,000 after buying an additional 32,138 shares during the period. Alliancebernstein L.P. boosted its stake in Spirit Aerosystems Holdings by 128.7% during the second quarter. Alliancebernstein L.P. now owns 289,464 shares of the aerospace company’s stock worth $16,772,000 after buying an additional 162,894 shares during the period. Finally, Commonwealth Bank of Australia purchased a new position in Spirit Aerosystems Holdings during the second quarter worth about $637,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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Several research analysts have weighed in on SPR shares. Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $62.00 to $83.00 in a research note on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $69.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. BidaskClub lowered shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 target price on shares of Spirit Aerosystems Holdings in a research note on Tuesday, July 25th. Finally, Canaccord Genuity increased their target price on shares of Spirit Aerosystems Holdings from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $72.94.

Spirit Aerosystems Holdings, Inc. (NYSE SPR) opened at 77.75 on Tuesday. The company has a 50-day moving average of $71.83 and a 200-day moving average of $61.07. The stock has a market cap of $9.20 billion, a P/E ratio of 27.92 and a beta of 1.31. Spirit Aerosystems Holdings, Inc. has a 52 week low of $42.26 and a 52 week high of $77.84.

Spirit Aerosystems Holdings (NYSE:SPR) last posted 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 firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, analysts predict that Spirit Aerosystems Holdings, Inc. will post $5.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.

Spirit Aerosystems Holdings declared that its board has authorized a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, SVP John A. Pilla sold 10,088 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total transaction of $752,564.80. Following the completion of the sale, the senior vice president now owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total transaction of $504,834.00. Following the sale, the director now directly owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Spirit Aerosystems Holdings (NYSE:SPR)

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