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Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Shares Sold by American Trust

Defense World ·  {{timeTz}}

American Trust lowered its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 26.3% in the first quarter, HoldingsChannel.com reports. The firm owned 4,390 shares of the aerospace company's stock after selling 1,570 shares during the quarter. American Trust's holdings in Spirit AeroSystems were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPR. HighTower Advisors LLC acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth $291,000. Teacher Retirement System of Texas boosted its stake in Spirit AeroSystems by 18.9% in the fourth quarter. Teacher Retirement System of Texas now owns 20,231 shares of the aerospace company's stock valued at $872,000 after acquiring an additional 3,216 shares in the last quarter. Rhumbline Advisers boosted its stake in Spirit AeroSystems by 1.8% in the fourth quarter. Rhumbline Advisers now owns 103,498 shares of the aerospace company's stock valued at $4,460,000 after acquiring an additional 1,787 shares in the last quarter. Bank of Montreal Can boosted its stake in Spirit AeroSystems by 63.3% in the fourth quarter. Bank of Montreal Can now owns 58,166 shares of the aerospace company's stock valued at $2,553,000 after acquiring an additional 22,546 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in Spirit AeroSystems in the fourth quarter valued at $897,000. Institutional investors and hedge funds own 83.73% of the company's stock.

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Spirit AeroSystems Trading Down 2.6 %

NYSE SPR opened at $25.14 on Tuesday. The stock has a market capitalization of $2.64 billion, a P/E ratio of -6.41 and a beta of 1.70. Spirit AeroSystems Holdings, Inc. has a 52-week low of $24.90 and a 52-week high of $53.31. The firm has a 50-day moving average price of $31.56 and a 200 day moving average price of $35.41. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 15.16.

Spirit AeroSystems (NYSE:SPR – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The aerospace company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.00). Spirit AeroSystems had a negative return on equity of 88.69% and a negative net margin of 9.12%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the company earned ($0.31) earnings per share. The company's revenue for the quarter was up 25.5% on a year-over-year basis. Equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -1.91 EPS for the current year.

Spirit AeroSystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 9th. This represents a $0.04 annualized dividend and a yield of 0.16%. Spirit AeroSystems's payout ratio is currently -1.02%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Susquehanna decreased their price objective on shares of Spirit AeroSystems from $50.00 to $41.00 in a research note on Thursday, August 4th. StockNews.com upgraded shares of Spirit AeroSystems from a "sell" rating to a "hold" rating in a research note on Wednesday, August 17th. TheStreet downgraded shares of Spirit AeroSystems from a "c-" rating to a "d+" rating in a research note on Wednesday, June 1st. Truist Financial reduced their target price on shares of Spirit AeroSystems from $70.00 to $60.00 in a report on Tuesday, July 19th. Finally, Morgan Stanley cut shares of Spirit AeroSystems from an "overweight" rating to an "underweight" rating and reduced their target price for the company from $51.00 to $35.00 in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.80.

About Spirit AeroSystems

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Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets 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, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.

Further Reading

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Want to see what other hedge funds are holding SPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating).

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