Advisors Asset Management Inc. raised its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 74.1% in the second quarter, HoldingsChannel reports. The firm owned 9,565 shares of the aerospace company’s stock after buying an additional 4,071 shares during the quarter. Advisors Asset Management Inc.’s holdings in Spirit AeroSystems were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in shares of Spirit AeroSystems during the 1st quarter valued at about $91,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Spirit AeroSystems during the 2nd quarter valued at about $126,000. Cullen Frost Bankers Inc. grew its stake in shares of Spirit AeroSystems by 49.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,433 shares of the aerospace company’s stock valued at $130,000 after purchasing an additional 1,460 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Spirit AeroSystems during the 1st quarter valued at about $169,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Spirit AeroSystems by 768.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,875 shares of the aerospace company’s stock valued at $189,000 after purchasing an additional 3,429 shares during the period. 83.73% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Susquehanna cut their price objective on Spirit AeroSystems from $50.00 to $41.00 in a research note on Thursday, August 4th. Truist Financial cut their price objective on Spirit AeroSystems from $46.00 to $39.00 in a research note on Friday, November 4th. Morgan Stanley cut their price objective on Spirit AeroSystems from $35.00 to $27.00 and set an “underweight” rating for the company in a research note on Monday, November 7th. Bank of America downgraded Spirit AeroSystems from a “buy” rating to an “underperform” rating and cut their price objective for the company from $49.00 to $26.00 in a research note on Friday, November 11th. Finally, StockNews.com upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.92.
Spirit AeroSystems Price Performance
Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The aerospace company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.24. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Spirit AeroSystems had a negative return on equity of 89.53% and a negative net margin of 8.85%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.13) EPS. As a group, equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -1.78 earnings per share for the current fiscal year.
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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