Posted by admin on Jun 23rd, 2022
Bowling Portfolio Management LLC cut its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 9.9% in the first quarter, Holdings Channel reports. The institutional investor owned 6,774 shares of the aerospace company’s stock after selling 743 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Spirit AeroSystems were worth $331,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Spirit AeroSystems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,288,927 shares of the aerospace company’s stock worth $55,539,000 after purchasing an additional 44,446 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Spirit AeroSystems by 119.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 204,849 shares of the aerospace company’s stock worth $8,826,000 after purchasing an additional 111,389 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth approximately $415,000. CWM LLC purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth approximately $118,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth approximately $322,000. Institutional investors and hedge funds own 79.33% of the company’s stock.
Shares of Spirit AeroSystems stock opened at $28.49 on Thursday. Spirit AeroSystems Holdings, Inc. has a 52 week low of $26.18 and a 52 week high of $53.31. The business’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $41.86. The firm has a market cap of $2.99 billion, a PE ratio of -7.03 and a beta of 1.76. The company has a quick ratio of 1.22, a current ratio of 1.98 and a debt-to-equity ratio of 9.77.
Spirit AeroSystems (NYSE:SPR – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The aerospace company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.61) by $0.64. Spirit AeroSystems had a negative return on equity of 51.61% and a negative net margin of 9.98%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted ($1.22) EPS. The company’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -0.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 7th. Stockholders of record on Thursday, June 16th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Wednesday, June 15th. Spirit AeroSystems’s dividend payout ratio (DPR) is presently -0.99%.
Several analysts recently commented on SPR shares. Royal Bank of Canada boosted their price target on Spirit AeroSystems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, March 3rd. StockNews.com assumed coverage on Spirit AeroSystems in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet lowered Spirit AeroSystems from a “c-” rating to a “d+” rating in a research note on Wednesday, June 1st. Susquehanna lowered their price objective on Spirit AeroSystems from $55.00 to $50.00 in a research note on Thursday, May 5th. Finally, Sanford C. Bernstein lowered their price objective on Spirit AeroSystems from $66.00 to $58.00 in a research note on Thursday, May 5th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.60.
About Spirit AeroSystems (Get Rating)
Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.
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