Bank of America Corp DE Trims Stock Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Bank of America Corp DE lessened its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 29.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 877,483 shares of the aerospace company’s stock after selling 370,002 shares during the quarter. Bank of America Corp DE’s holdings in Spirit AeroSystems were worth $29,905,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $67,000. Byrne Asset Management LLC lifted its position in shares of Spirit AeroSystems by 210.6% during the 4th quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock worth $70,000 after buying an additional 1,390 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $97,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Stock Performance

Shares of SPR opened at $37.82 on Friday. The stock has a market capitalization of $4.44 billion, a P/E ratio of -3.05 and a beta of 1.63. The company’s fifty day moving average is $34.39 and its two-hundred day moving average is $33.67. Spirit AeroSystems Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $37.86.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.74 billion. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.93) earnings per share. Sell-side analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current year.

Analysts Set New Price Targets

SPR has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. StockNews.com assumed coverage on shares of Spirit AeroSystems in a research report on Saturday, March 8th. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Spirit AeroSystems presently has a consensus rating of “Hold” and an average target price of $36.56.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.