Investors Buy Shares of Spirit Aerosystems Holdings, Inc. (SPR) on Weakness

Investors purchased shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) on weakness during trading hours on Tuesday. $23.26 million flowed into the stock on the tick-up and $8.02 million flowed out of the stock on the tick-down, for a money net flow of $15.24 million into the stock. Of all companies tracked, Spirit Aerosystems Holdings had the 24th highest net in-flow for the day. Spirit Aerosystems Holdings traded down ($0.92) for the day and closed at $77.67

A number of equities analysts have commented on SPR shares. ValuEngine upgraded shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. UBS AG reiterated a “buy” rating and issued a $81.00 price objective (up previously from $63.00) on shares of Spirit Aerosystems Holdings in a report on Monday, August 21st. Royal Bank Of Canada set a $69.00 price objective on shares of Spirit Aerosystems Holdings and gave the stock a “sell” rating in a report on Sunday, September 10th. Finally, Morgan Stanley boosted their price objective on shares of Spirit Aerosystems Holdings from $66.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Spirit Aerosystems Holdings has a consensus rating of “Hold” and an average price target of $75.28.

The company has a market capitalization of $9.34 billion, a P/E ratio of 28.33 and a beta of 1.36. The firm has a 50 day moving average of $75.02 and a 200-day moving average of $62.63.

Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, analysts forecast that Spirit Aerosystems Holdings, Inc. will post $5.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.

Spirit Aerosystems Holdings declared that its board has approved a share repurchase program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In other news, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total transaction of $752,564.80. Following the completion of the transaction, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $76.49, for a total transaction of $504,834.00. Following the transaction, the director now directly owns 23,828 shares of the company’s stock, valued at $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after acquiring an additional 160 shares during the period. Raymond James Trust N.A. bought a new position in shares of Spirit Aerosystems Holdings during the 2nd quarter worth about $200,000. State of Alaska Department of Revenue lifted its holdings in shares of Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 222 shares during the period. Parametrica Management Ltd bought a new position in shares of Spirit Aerosystems Holdings during the 2nd quarter worth about $217,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Spirit Aerosystems Holdings by 23.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock worth $228,000 after acquiring an additional 740 shares during the period. 98.66% of the stock is owned by institutional investors.

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About Spirit Aerosystems Holdings

Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.

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