FMR LLC grew its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 33.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 796,187 shares of the aerospace company’s stock after acquiring an additional 201,666 shares during the period. FMR LLC owned about 0.67% of Spirit AeroSystems Holdings worth $46,131,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SPR. Canada Pension Plan Investment Board increased its stake in shares of Spirit AeroSystems Holdings by 449.6% in the second quarter. Canada Pension Plan Investment Board now owns 75,300 shares of the aerospace company’s stock worth $4,363,000 after acquiring an additional 61,600 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of Spirit AeroSystems Holdings in the second quarter worth $817,000. Credit Suisse AG increased its stake in shares of Spirit AeroSystems Holdings by 33.2% in the first quarter. Credit Suisse AG now owns 339,285 shares of the aerospace company’s stock worth $19,651,000 after acquiring an additional 84,561 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Spirit AeroSystems Holdings in the second quarter worth $3,786,000. Finally, Caxton Associates LP acquired a new position in shares of Spirit AeroSystems Holdings in the first quarter worth $504,000. Institutional investors own 98.86% of the company’s stock.
In related news, Director Charles L. Chadwell sold 6,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total transaction of $504,834.00. Following the completion of the transaction, the director now directly owns 23,828 shares in the company, valued at approximately $1,822,603.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John A. Pilla sold 10,088 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the transaction, the senior vice president now owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
A number of research firms have recently weighed in on SPR. Zacks Investment Research raised shares of Spirit AeroSystems Holdings from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, October 11th. Citigroup Inc. reiterated a “buy” rating and issued a $91.00 price objective (up from $85.00) on shares of Spirit AeroSystems Holdings in a report on Monday, October 9th. ValuEngine cut shares of Spirit AeroSystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group LLC upped their price objective on shares of Spirit AeroSystems Holdings from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Spirit AeroSystems Holdings in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $76.17.
Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) opened at 79.67 on Friday. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 28.61 and a beta of 1.36. Spirit AeroSystems Holdings, Inc. has a 12-month low of $49.95 and a 12-month high of $81.07. The stock’s 50 day moving average is $78.14 and its 200 day moving average is $65.02.
Spirit AeroSystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. Spirit AeroSystems Holdings had a negative net margin of 3.11% and a negative return on equity of 12.00%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts expect that Spirit AeroSystems Holdings, Inc. will post $5.25 earnings per share for the current year.
Spirit AeroSystems Holdings declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the aerospace company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Monday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, December 15th. Spirit AeroSystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.
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About Spirit AeroSystems Holdings
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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