APG Asset Management N.V. reduced its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 95.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 56,906 shares of the aerospace company’s stock after selling 1,127,881 shares during the quarter. APG Asset Management N.V.’s holdings in Spirit AeroSystems were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of SPR. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Spirit AeroSystems by 33.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,542,281 shares of the aerospace company’s stock valued at $403,922,000 after purchasing an additional 1,384,829 shares during the last quarter. Sculptor Capital LP increased its holdings in shares of Spirit AeroSystems by 64.2% in the fourth quarter. Sculptor Capital LP now owns 4,530,301 shares of the aerospace company’s stock valued at $330,168,000 after purchasing an additional 1,770,725 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Spirit AeroSystems by 108.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,287,799 shares of the aerospace company’s stock worth $93,855,000 after buying an additional 668,599 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of Spirit AeroSystems by 14.0% during the 1st quarter. Ceredex Value Advisors LLC now owns 1,267,100 shares of the aerospace company’s stock worth $30,339,000 after buying an additional 155,775 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Spirit AeroSystems by 8.3% during the 1st quarter. Geode Capital Management LLC now owns 1,208,667 shares of the aerospace company’s stock worth $28,899,000 after buying an additional 93,037 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
A number of brokerages have recently issued reports on SPR. Canaccord Genuity reduced their price objective on Spirit AeroSystems from $30.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Robert W. Baird restated a “hold” rating and issued a $23.00 price target on shares of Spirit AeroSystems in a research note on Tuesday, June 23rd. Citigroup decreased their price objective on Spirit AeroSystems from $90.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Zacks Investment Research cut shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $22.00 target price for the company. in a research report on Tuesday, March 24th. Finally, Royal Bank of Canada began coverage on shares of Spirit AeroSystems in a research report on Friday, June 26th. They set an “outperform” rating and a $31.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.82.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, May 6th. The aerospace company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.63. Spirit AeroSystems had a return on equity of 20.46% and a net margin of 2.92%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business earned $1.68 EPS. The company’s revenue for the quarter was down 44.1% compared to the same quarter last year. As a group, equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -2.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.04 annualized dividend and a yield of 0.15%. Spirit AeroSystems’s payout ratio is currently 0.72%.
Spirit AeroSystems 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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