Bank of New York Mellon Corp Lowers Stake in Spirit Aerosystems Holdings, Inc. $SPR

Bank of New York Mellon Corp cut its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 307,988 shares of the aerospace company’s stock after selling 30,058 shares during the period. Bank of New York Mellon Corp’s holdings in Spirit Aerosystems were worth $11,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of SPR. Allianz Asset Management GmbH boosted its holdings in Spirit Aerosystems by 10.9% in the 1st quarter. Allianz Asset Management GmbH now owns 63,097 shares of the aerospace company’s stock worth $2,174,000 after buying an additional 6,200 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Spirit Aerosystems during the first quarter valued at about $392,000. Readystate Asset Management LP lifted its position in shares of Spirit Aerosystems by 1,950.2% in the first quarter. Readystate Asset Management LP now owns 286,105 shares of the aerospace company’s stock valued at $9,859,000 after acquiring an additional 272,150 shares in the last quarter. Oak Thistle LLC boosted its stake in shares of Spirit Aerosystems by 216.8% in the first quarter. Oak Thistle LLC now owns 46,150 shares of the aerospace company’s stock worth $1,590,000 after acquiring an additional 31,582 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of Spirit Aerosystems in the first quarter worth about $211,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit Aerosystems Price Performance

NYSE SPR opened at $35.88 on Wednesday. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year high of $42.33. The business has a 50 day simple moving average of $38.11 and a two-hundred day simple moving average of $38.64. The stock has a market capitalization of $4.22 billion, a PE ratio of -1.79 and a beta of 1.70.

Spirit Aerosystems (NYSE:SPR) last issued its quarterly earnings data on Friday, October 31st. The aerospace company reported ($4.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($4.50). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned ($3.03) earnings per share. Spirit Aerosystems’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPR. Wall Street Zen raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Spirit Aerosystems in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.63.

About Spirit Aerosystems

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.