DnB Asset Management AS acquired a new position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,600 shares of the aerospace company’s stock, valued at approximately $1,099,000.
A number of other hedge funds have also recently modified their holdings of SPR. UBS Asset Management Americas Inc. raised its holdings in Spirit AeroSystems by 1,425.0% during the second quarter. UBS Asset Management Americas Inc. now owns 2,255,618 shares of the aerospace company’s stock worth $130,691,000 after purchasing an additional 2,107,710 shares during the last quarter. Boston Partners raised its holdings in Spirit AeroSystems by 74.5% during the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock worth $328,791,000 after purchasing an additional 1,806,228 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Spirit AeroSystems during the third quarter worth $52,067,000. Koch Industries Inc. acquired a new position in Spirit AeroSystems during the second quarter worth $524,000. Finally, JPMorgan Chase & Co. raised its holdings in Spirit AeroSystems by 79.9% during the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock worth $57,813,000 after purchasing an additional 330,903 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on SPR. Zacks Investment Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, January 10th. Cowen reaffirmed an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. ValuEngine cut Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price objective on shares of Spirit AeroSystems in a report on Tuesday, October 31st. Finally, Credit Suisse Group lifted their price objective on Spirit AeroSystems from $88.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $84.11.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. Spirit AeroSystems’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. sell-side analysts forecast that Spirit AeroSystems Holdings, Inc. will post 5.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Monday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, December 15th. Spirit AeroSystems’s payout ratio is 14.08%.
In other news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the completion of the sale, the director now owns 1,964 shares of the company’s stock, valued at $165,231.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Duane F. Hawkins sold 5,000 shares of Spirit AeroSystems stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.04, for a total value of $415,200.00. Following the completion of the sale, the senior vice president now directly owns 39,374 shares of the company’s stock, valued at approximately $3,269,616.96. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Spirit AeroSystems Company 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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