Stone Ridge Asset Management LLC lessened its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 65.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,184 shares of the aerospace company’s stock after selling 56,947 shares during the period. Stone Ridge Asset Management LLC’s holdings in Spirit AeroSystems were worth $2,200,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SPR. Boston Partners increased its holdings in shares of Spirit AeroSystems by 24.1% in the 3rd quarter. Boston Partners now owns 2,113,203 shares of the aerospace company’s stock worth $173,797,000 after acquiring an additional 409,856 shares during the period. Maple Rock Capital Partners Inc. bought a new position in Spirit AeroSystems in the 3rd quarter valued at about $21,382,000. Russell Investments Group Ltd. grew its position in Spirit AeroSystems by 160.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 397,333 shares of the aerospace company’s stock valued at $32,710,000 after buying an additional 244,997 shares in the last quarter. State Street Corp grew its position in Spirit AeroSystems by 6.5% in the 3rd quarter. State Street Corp now owns 3,710,259 shares of the aerospace company’s stock valued at $305,565,000 after buying an additional 227,562 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Spirit AeroSystems by 89.3% in the 3rd quarter. Squarepoint Ops LLC now owns 316,862 shares of the aerospace company’s stock valued at $26,059,000 after buying an additional 149,460 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.99, for a total transaction of $43,495.00. Following the completion of the transaction, the director now owns 1,432 shares in the company, valued at approximately $124,569.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, March 20th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, March 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.06%. Spirit AeroSystems’s dividend payout ratio (DPR) is 7.67%.
A number of equities analysts recently issued reports on SPR shares. ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Cowen reiterated a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, October 31st. Bank of America lowered shares of Spirit AeroSystems from a “buy” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $77.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. decreased their target price on shares of Spirit AeroSystems from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $74.00 target price (down previously from $88.00) on shares of Spirit AeroSystems in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $87.60.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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