Advisor Group Holdings Inc. cut its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 29.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,819 shares of the aerospace company’s stock after selling 26,199 shares during the period. Advisor Group Holdings Inc. owned 0.06% of Spirit AeroSystems worth $9,954,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new position in Spirit AeroSystems during the first quarter worth $50,000. Rockefeller Capital Management L.P. increased its position in shares of Spirit AeroSystems by 242.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,197 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 847 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Spirit AeroSystems by 97.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,335 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 659 shares during the last quarter. CWM LLC bought a new position in Spirit AeroSystems in the 4th quarter valued at about $118,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Spirit AeroSystems during the 4th quarter valued at about $65,000. 79.33% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
SPR has been the topic of a number of recent research reports. Sanford C. Bernstein dropped their target price on Spirit AeroSystems from $66.00 to $58.00 in a report on Thursday, May 5th. TheStreet downgraded shares of Spirit AeroSystems from a “c-” rating to a “d+” rating in a report on Wednesday, June 1st. Susquehanna lowered their target price on shares of Spirit AeroSystems from $55.00 to $50.00 in a report on Thursday, May 5th. Finally, Truist Financial cut their price target on shares of Spirit AeroSystems from $70.00 to $60.00 in a report on Tuesday, July 19th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.
Spirit AeroSystems Stock Performance
Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The aerospace company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.00). Spirit AeroSystems had a negative return on equity of 51.61% and a negative net margin of 9.98%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business earned ($0.31) EPS. The company’s revenue for the quarter was up 25.5% on a year-over-year basis. On average, research analysts predict that Spirit AeroSystems Holdings, Inc. will post -0.2 EPS for the current year.
Spirit AeroSystems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. Spirit AeroSystems’s payout ratio is -0.99%.
Spirit AeroSystems Company Profile
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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