Tower Research Capital LLC TRC lifted its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 11.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,348 shares of the aerospace company’s stock after buying an additional 856 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Spirit AeroSystems were worth $718,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Spirit AeroSystems by 4.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 435,226 shares of the aerospace company’s stock valued at $36,429,000 after buying an additional 16,652 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Spirit AeroSystems during the first quarter worth $483,000. Aperio Group LLC lifted its position in shares of Spirit AeroSystems by 16.7% during the first quarter. Aperio Group LLC now owns 48,258 shares of the aerospace company’s stock worth $4,039,000 after purchasing an additional 6,906 shares in the last quarter. Tredje AP fonden lifted its position in shares of Spirit AeroSystems by 93.3% during the first quarter. Tredje AP fonden now owns 10,130 shares of the aerospace company’s stock worth $849,000 after purchasing an additional 4,890 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Spirit AeroSystems by 7.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,068 shares of the aerospace company’s stock worth $1,596,000 after purchasing an additional 1,268 shares in the last quarter.
SPR stock traded up $0.76 during midday trading on Friday, hitting $83.84. The stock had a trading volume of 1,025,094 shares, compared to its average volume of 1,088,534. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.52 and a quick ratio of 1.04. Spirit AeroSystems Holdings, Inc. has a 52 week low of $76.00 and a 52 week high of $105.20. The stock has a market cap of $9.76 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, August 1st. The aerospace company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.12. Spirit AeroSystems had a return on equity of 39.74% and a net margin of 7.68%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Stockholders of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Spirit AeroSystems’s dividend payout ratio (DPR) is presently 8.97%.
In other Spirit AeroSystems news, Director Charles L. Chadwell sold 11,500 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $87.33, for a total transaction of $1,004,295.00. Following the transaction, the director now owns 13,821 shares in the company, valued at $1,206,987.93. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michelle Lohmeier sold 3,420 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $87.30, for a total value of $298,566.00. Following the transaction, the senior vice president now owns 33,037 shares in the company, valued at approximately $2,884,130.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,920 shares of company stock valued at $1,644,796. 0.87% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on the stock. Cowen reaffirmed a “buy” rating and issued a $100.00 price target on shares of Spirit AeroSystems in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, July 10th. Standpoint Research upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group initiated coverage on shares of Spirit AeroSystems in a report on Wednesday, August 15th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Credit Suisse Group reduced their price objective on shares of Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $103.88.
Spirit AeroSystems Profile
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through 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 offers related spares and maintenance, repairs, and overhaul (MRO) services.
Read More: What is Compound Annual Growth Rate (CAGR)?
Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter.