Spirit Aerosystems Holdings, Inc. (NYSE:SPR) announced a quarterly dividend on Tuesday, July 25th, Zacks reports. Investors of record on Monday, September 18th will be given a dividend of 0.10 per share by the aerospace company on Tuesday, October 10th. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, September 15th.
Spirit Aerosystems Holdings has a payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Spirit Aerosystems Holdings to earn $5.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 7.4%.
Shares of Spirit Aerosystems Holdings (NYSE SPR) opened at 75.55 on Friday. Spirit Aerosystems Holdings has a 52-week low of $42.26 and a 52-week high of $76.15. The company’s 50-day moving average is $69.19 and its 200 day moving average is $60.41. The firm has a market capitalization of $8.94 billion, a PE ratio of 27.13 and a beta of 1.31.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.37. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities analysts expect that Spirit Aerosystems Holdings will post $5.19 earnings per share for the current fiscal year.
A number of research analysts have recently commented on SPR shares. Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $83.00 in a research note on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 price objective on shares of Spirit Aerosystems Holdings in a research note on Tuesday, July 25th. Finally, Canaccord Genuity upped their price objective on shares of Spirit Aerosystems Holdings from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Spirit Aerosystems Holdings currently has an average rating of “Buy” and an average price target of $72.06.
Spirit Aerosystems Holdings declared that its board has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, SVP John A. Pilla sold 10,088 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by corporate insiders.
Spirit Aerosystems Holdings 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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