Public Sector Pension Investment Board trimmed its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 21.4% in the 4th quarter, HoldingsChannel reports. The firm owned 48,359 shares of the aerospace company’s stock after selling 13,141 shares during the quarter. Public Sector Pension Investment Board’s holdings in Spirit AeroSystems were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in SPR. Estabrook Capital Management purchased a new stake in shares of Spirit AeroSystems in the fourth quarter valued at approximately $26,000. Pacitti Group Inc. purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at $26,000. Coastal Investment Advisors Inc. purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at $27,000. Private Ocean LLC purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at $28,000. Finally, Carroll Financial Associates Inc. raised its holdings in shares of Spirit AeroSystems by 166.7% in the 4th quarter. Carroll Financial Associates Inc. now owns 400 shares of the aerospace company’s stock valued at $29,000 after buying an additional 250 shares during the period. Institutional investors own 95.80% of the company’s stock.
Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Spirit AeroSystems from $95.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Benchmark started coverage on Spirit AeroSystems in a report on Tuesday, February 18th. They set a “hold” rating on the stock. Bank of America downgraded Spirit AeroSystems from a “buy” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $77.00 in a report on Wednesday, January 15th. Zacks Investment Research downgraded Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $22.00 price target on the stock. in a report on Tuesday. Finally, SunTrust Banks cut their price target on Spirit AeroSystems from $66.00 to $50.00 and set a “sell” rating on the stock in a report on Monday, March 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Spirit AeroSystems currently has an average rating of “Hold” and a consensus price target of $71.20.
Shares of NYSE:SPR traded up $4.85 on Thursday, hitting $36.87. 3,479,308 shares of the company’s stock were exchanged, compared to its average volume of 2,789,094. The firm’s 50-day moving average is $50.25 and its 200 day moving average is $72.21. The company has a market capitalization of $2.68 billion, a PE ratio of 7.27, a P/E/G ratio of 78.51 and a beta of 1.27. Spirit AeroSystems Holdings, Inc. has a 1-year low of $13.69 and a 1-year high of $94.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.00 and a current ratio of 2.64.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Friday, February 28th. The aerospace company reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.78). The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. Spirit AeroSystems had a return on equity of 37.69% and a net margin of 6.74%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 earnings per share. On average, analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 0.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, March 20th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.11%. Spirit AeroSystems’s dividend payout ratio is currently 0.72%.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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