Tredje AP fonden grew its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 93.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,130 shares of the aerospace company’s stock after purchasing an additional 4,890 shares during the quarter. Tredje AP fonden’s holdings in Spirit AeroSystems were worth $849,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SPR. Creative Planning raised its position in shares of Spirit AeroSystems by 37.6% in the 4th quarter. Creative Planning now owns 4,190 shares of the aerospace company’s stock valued at $366,000 after buying an additional 1,146 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Spirit AeroSystems by 3.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 418,574 shares of the aerospace company’s stock valued at $36,521,000 after buying an additional 13,088 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Spirit AeroSystems in the 4th quarter valued at approximately $166,000. Westpac Banking Corp acquired a new position in shares of Spirit AeroSystems in the 4th quarter valued at approximately $632,000. Finally, State of Alaska Department of Revenue raised its position in shares of Spirit AeroSystems by 196.4% in the 4th quarter. State of Alaska Department of Revenue now owns 11,319 shares of the aerospace company’s stock valued at $987,000 after buying an additional 7,500 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.
SPR opened at $87.04 on Thursday. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $53.61 and a fifty-two week high of $105.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.98 and a current ratio of 1.53. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.49.
Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, May 2nd. The aerospace company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.25). Spirit AeroSystems had a return on equity of 35.11% and a net margin of 4.82%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. equities research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.28 EPS for the current fiscal year.
Spirit AeroSystems announced that its board has approved a share buyback plan on Friday, February 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 9th. Shareholders of record on Monday, June 18th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Spirit AeroSystems’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, June 15th. Spirit AeroSystems’s payout ratio is presently 7.48%.
In other Spirit AeroSystems news, Director Laura Wright bought 1,200 shares of Spirit AeroSystems stock in a transaction on Tuesday, May 15th. The shares were purchased at an average cost of $84.46 per share, with a total value of $101,352.00. Following the acquisition, the director now directly owns 3,187 shares of the company’s stock, valued at approximately $269,174.02. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.
A number of research firms recently issued reports on SPR. Morgan Stanley upped their price objective on shares of Spirit AeroSystems from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. ValuEngine cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Spirit AeroSystems in a research report on Wednesday, May 2nd. Canaccord Genuity lowered their price objective on shares of Spirit AeroSystems from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Finally, Jefferies Group reiterated a “buy” rating and set a $112.00 price objective on shares of Spirit AeroSystems in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Spirit AeroSystems has an average rating of “Buy” and a consensus target price of $98.79.
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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