Hanseatic Management Services Inc. boosted its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 43.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,654 shares of the aerospace company’s stock after acquiring an additional 3,252 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Spirit AeroSystems were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Strs Ohio purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $130,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $166,000. Guggenheim Capital LLC purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $207,000. LS Investment Advisors LLC purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $208,000. Finally, American International Group Inc. purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $211,000. Institutional investors own 97.48% of the company’s stock.
In related news, SVP William Edward Brown sold 5,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stacy Cozad sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total value of $100,617.00. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Spirit AeroSystems (NYSE:SPR) last released its earnings results on Friday, February 2nd. The aerospace company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.10. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.42 earnings per share for the current year.
Spirit AeroSystems declared that its board has authorized a share buyback plan on Friday, February 2nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s payout ratio is presently 13.25%.
Several equities research analysts recently weighed in on SPR shares. Seaport Global Securities restated a “buy” rating and set a $120.00 target price on shares of Spirit AeroSystems in a report on Thursday, January 18th. ValuEngine upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley increased their target price on Spirit AeroSystems from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Royal Bank of Canada set a $100.00 target price on Spirit AeroSystems and gave the company a “sell” rating in a report on Tuesday, January 23rd. Finally, Robert W. Baird restated a “buy” rating and set a $129.00 target price on shares of Spirit AeroSystems in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Spirit AeroSystems has a consensus rating of “Buy” and an average target price of $97.11.
About Spirit AeroSystems
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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