Quantum Capital Management cut its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 18.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,405 shares of the aerospace company’s stock after selling 26,947 shares during the period. Spirit Aerosystems Holdings comprises about 2.1% of Quantum Capital Management’s holdings, making the stock its 8th largest holding. Quantum Capital Management owned about 0.10% of Spirit Aerosystems Holdings worth $9,047,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc purchased a new position in Spirit Aerosystems Holdings in the third quarter valued at $228,000. Quantbot Technologies LP purchased a new position in Spirit Aerosystems Holdings in the third quarter valued at $469,000. Hanseatic Management Services Inc. purchased a new position in Spirit Aerosystems Holdings in the third quarter valued at $575,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Spirit Aerosystems Holdings by 8.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,573 shares of the aerospace company’s stock valued at $1,288,000 after purchasing an additional 1,269 shares during the period. Finally, Kiwi Wealth Investments Limited Partnership purchased a new position in Spirit Aerosystems Holdings in the third quarter valued at $2,784,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.
In related news, SVP John A. Pilla sold 10,088 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the transaction, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles L. Chadwell sold 6,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $76.49, for a total value of $504,834.00. Following the completion of the transaction, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. Insiders sold a total of 21,688 shares of company stock worth $1,672,599 in the last 90 days. 0.28% of the stock is currently owned by insiders.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) traded down $0.95 during mid-day trading on Thursday, reaching $79.90. The company had a trading volume of 746,300 shares, compared to its average volume of 1,008,018. The firm has a market cap of $9,348.20, a PE ratio of 16.53, a PEG ratio of 1.43 and a beta of 1.16. Spirit Aerosystems Holdings, Inc. has a 1 year low of $51.85 and a 1 year high of $84.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.56 and a quick ratio of 0.85.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 31.14% and a net margin of 4.98%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. equities research analysts predict that Spirit Aerosystems Holdings, Inc. will post 5.22 earnings per share for the current year.
Spirit Aerosystems Holdings declared that its board has initiated a stock buyback program on Wednesday, August 2nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, December 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.08%.
A number of research analysts recently issued reports on SPR shares. Zacks Investment Research lowered Spirit Aerosystems Holdings from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine raised Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. UBS AG reaffirmed a “buy” rating and set a $81.00 price target (up 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 target on Spirit Aerosystems Holdings and gave the stock a “sell” rating in a report on Sunday, September 10th. Finally, Jefferies Group LLC lifted their price target on Spirit Aerosystems Holdings from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. Spirit Aerosystems Holdings has a consensus rating of “Hold” and an average price target of $79.95.
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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