Synovus Financial Corp Makes New $284,000 Investment in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Synovus Financial Corp bought a new stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPRGet Rating) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 9,736 shares of the aerospace company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Spirit AeroSystems by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,384,185 shares of the aerospace company’s stock valued at $458,793,000 after acquiring an additional 68,953 shares during the last quarter. BlackRock Inc. raised its position in shares of Spirit AeroSystems by 4.0% during the 1st quarter. BlackRock Inc. now owns 5,332,086 shares of the aerospace company’s stock valued at $260,687,000 after acquiring an additional 205,899 shares during the last quarter. State Street Corp raised its position in shares of Spirit AeroSystems by 14.2% during the 1st quarter. State Street Corp now owns 3,073,564 shares of the aerospace company’s stock valued at $150,299,000 after acquiring an additional 382,465 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Spirit AeroSystems by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 995,921 shares of the aerospace company’s stock valued at $48,690,000 after acquiring an additional 50,654 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Spirit AeroSystems by 11.6% during the 2nd quarter. Jennison Associates LLC now owns 963,645 shares of the aerospace company’s stock valued at $28,235,000 after acquiring an additional 99,926 shares during the last quarter. Institutional investors own 83.73% of the company’s stock.

Spirit AeroSystems Stock Performance

SPR stock opened at $25.24 on Monday. The stock has a 50-day moving average price of $24.90 and a two-hundred day moving average price of $29.07. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 15.16. Spirit AeroSystems Holdings, Inc. has a 1 year low of $21.14 and a 1 year high of $53.31.

Spirit AeroSystems (NYSE:SPRGet Rating) last released its earnings results on Thursday, November 3rd. The aerospace company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.24. Spirit AeroSystems had a negative return on equity of 89.53% and a negative net margin of 8.85%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned ($1.13) EPS. The company’s revenue was up 30.3% on a year-over-year basis. Analysts expect that Spirit AeroSystems Holdings, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

SPR has been the subject of several recent research reports. StockNews.com upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Bank Of America (Bofa) cut shares of Spirit AeroSystems to an “underperform” rating in a research report on Friday, November 11th. Susquehanna lowered their price objective on shares of Spirit AeroSystems from $50.00 to $41.00 in a research report on Thursday, August 4th. The Goldman Sachs Group lowered their price objective on shares of Spirit AeroSystems from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, November 7th. Finally, Morgan Stanley lowered their price objective on shares of Spirit AeroSystems from $35.00 to $27.00 and set an “underweight” rating for the company in a research report on Monday, November 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.92.

Spirit AeroSystems Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Spirit AeroSystems (NYSE:SPR)

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