Industrial Alliance Investment Management Inc. cut its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 1.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 68,120 shares of the aerospace company’s stock after selling 750 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Spirit AeroSystems were worth $1,493,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Captrust Financial Advisors increased its position in shares of Spirit AeroSystems by 565.7% during the third quarter. Captrust Financial Advisors now owns 14,438 shares of the aerospace company’s stock worth $316,000 after buying an additional 12,269 shares during the period. Advisory Research Inc. grew its holdings in Spirit AeroSystems by 4.3% in the third quarter. Advisory Research Inc. now owns 139,680 shares of the aerospace company’s stock worth $3,062,000 after purchasing an additional 5,820 shares during the period. Balyasny Asset Management LLC acquired a new stake in Spirit AeroSystems in the third quarter worth $14,306,000. Verity Asset Management Inc. acquired a new stake in Spirit AeroSystems in the third quarter worth $513,000. Finally, BNP Paribas Arbitrage SNC grew its holdings in Spirit AeroSystems by 35.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 252,132 shares of the aerospace company’s stock worth $5,527,000 after purchasing an additional 65,818 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SPR has been the subject of a number of research reports. Truist Financial raised their price target on shares of Spirit AeroSystems from $39.00 to $42.00 in a report on Monday, January 9th. JPMorgan Chase & Co. raised their price target on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Susquehanna raised their price target on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Wednesday, February 8th. Sanford C. Bernstein lowered shares of Spirit AeroSystems from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $46.00 to $38.00 in a research note on Wednesday, March 1st. Finally, Barclays raised their price objective on shares of Spirit AeroSystems from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Four analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and an average target price of $38.17.
Spirit AeroSystems Stock Up 0.2 %
Spirit AeroSystems (NYSE:SPR – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The aerospace company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.15). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Spirit AeroSystems had a negative net margin of 10.85% and a negative return on equity of 365.67%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.84) earnings per share. Research analysts expect that Spirit AeroSystems Holdings, Inc. will post -0.06 earnings per share for the current fiscal year.
Spirit AeroSystems Profile
Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.
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