Spirit AeroSystems (NYSE:SPR) posted its earnings results on Wednesday. The aerospace company reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.07, Briefing.com reports. Spirit AeroSystems had a net margin of 8.88% and a return on equity of 59.68%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Spirit AeroSystems’s revenue for the quarter was up 9.7% on a year-over-year basis.
Shares of NYSE SPR traded up $0.66 on Friday, reaching $76.16. 1,114,447 shares of the company’s stock traded hands, compared to its average volume of 1,262,030. Spirit AeroSystems has a 12 month low of $64.48 and a 12 month high of $100.34. The company has a 50 day moving average of $78.18. The stock has a market cap of $7.95 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.39 and a debt-to-equity ratio of 1.71.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, September 13th. Spirit AeroSystems’s dividend payout ratio is 7.67%.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $79.95, for a total transaction of $39,975.00. Following the completion of the transaction, the director now owns 2,925 shares of the company’s stock, valued at $233,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in shares of Spirit AeroSystems during the first quarter valued at approximately $42,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Spirit AeroSystems during the second quarter valued at approximately $40,000. Advisors Preferred LLC bought a new stake in shares of Spirit AeroSystems during the first quarter valued at approximately $76,000. Smithfield Trust Co. increased its position in shares of Spirit AeroSystems by 538.5% during the first quarter. Smithfield Trust Co. now owns 830 shares of the aerospace company’s stock valued at $76,000 after acquiring an additional 700 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Spirit AeroSystems by 120.0% during the first quarter. Signaturefd LLC now owns 970 shares of the aerospace company’s stock valued at $89,000 after acquiring an additional 529 shares in the last quarter. 96.38% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on SPR. ValuEngine downgraded shares of Spirit AeroSystems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. SunTrust Banks downgraded shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and decreased their price target for the stock from $93.00 to $75.00 in a research note on Friday, June 14th. Jefferies Financial Group downgraded shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $106.00 to $85.00 in a research note on Tuesday, July 2nd. Canaccord Genuity downgraded shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $100.00 to $92.00 in a research note on Monday, April 8th. Finally, Cowen reissued a “hold” rating and issued a $90.00 price target on shares of Spirit AeroSystems in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $95.22.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in 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 related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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