Cornerstone Capital Management Holdings LLC. decreased its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 309,892 shares of the aerospace company’s stock after selling 24,318 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Spirit AeroSystems were worth $27,037,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hanseatic Management Services Inc. lifted its stake in shares of Spirit AeroSystems by 43.9% during the fourth quarter. Hanseatic Management Services Inc. now owns 10,654 shares of the aerospace company’s stock valued at $930,000 after buying an additional 3,252 shares during the period. Stone Ridge Asset Management LLC purchased a new position in shares of Spirit AeroSystems during the fourth quarter valued at approximately $4,832,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Spirit AeroSystems during the fourth quarter valued at approximately $387,000. Guggenheim Capital LLC purchased a new position in shares of Spirit AeroSystems during the fourth quarter valued at approximately $207,000. Finally, Franklin Resources Inc. purchased a new position in shares of Spirit AeroSystems during the fourth quarter valued at approximately $3,625,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Stacy Cozad sold 1,100 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total value of $100,617.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William Edward Brown sold 5,500 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total transaction of $507,980.00. Following the completion of the sale, the senior vice president now directly owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
SPR has been the topic of several recent analyst reports. ValuEngine raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Spirit AeroSystems in a research note on Monday, February 5th. Zacks Investment Research raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, January 10th. Wells Fargo & Co raised shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $115.00 price target on shares of Spirit AeroSystems in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $97.11.
Shares of Spirit AeroSystems Holdings, Inc. (NYSE SPR) opened at $91.02 on Wednesday. Spirit AeroSystems Holdings, Inc. has a 52-week low of $51.85 and a 52-week high of $105.20. The stock has a market cap of $10,400.18, a price-to-earnings ratio of 30.14, a PEG ratio of 1.31 and a beta of 1.45. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.62.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.10. Spirit AeroSystems had a net margin of 5.08% and a return on equity of 34.03%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.42 EPS for the current fiscal year.
Spirit AeroSystems announced that its board has initiated a stock repurchase program on Friday, February 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 16th. Spirit AeroSystems’s payout ratio is currently 13.25%.
Spirit AeroSystems Company Profile
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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