Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Shares Sold by Sand Grove Capital Management LLP

Sand Grove Capital Management LLP cut its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 353,154 shares of the aerospace company’s stock after selling 80,515 shares during the period. Spirit AeroSystems makes up approximately 5.8% of Sand Grove Capital Management LLP’s holdings, making the stock its 9th biggest position. Sand Grove Capital Management LLP owned about 0.30% of Spirit AeroSystems worth $12,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Spirit AeroSystems during the fourth quarter valued at approximately $105,879,000. National Bank of Canada FI raised its holdings in shares of Spirit AeroSystems by 47.2% during the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock valued at $125,453,000 after acquiring an additional 1,181,147 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in shares of Spirit AeroSystems by 73.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,438,791 shares of the aerospace company’s stock valued at $83,114,000 after acquiring an additional 1,029,989 shares during the period. Alpine Associates Management Inc. raised its holdings in shares of Spirit AeroSystems by 30.1% during the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock valued at $105,395,000 after acquiring an additional 714,984 shares during the period. Finally, TIG Advisors LLC raised its holdings in shares of Spirit AeroSystems by 66.8% during the fourth quarter. TIG Advisors LLC now owns 1,739,094 shares of the aerospace company’s stock valued at $59,268,000 after acquiring an additional 696,533 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPR has been the topic of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research note on Saturday, March 8th. They issued a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Spirit AeroSystems currently has an average rating of “Hold” and an average target price of $36.56.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $37.82 on Friday. Spirit AeroSystems Holdings, Inc. has a 52-week low of $27.00 and a 52-week high of $37.86. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -3.05 and a beta of 1.63. The firm has a fifty day moving average of $34.39 and a 200-day moving average of $33.67.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.14) by ($3.11). The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.74 billion. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($3.93) EPS. On average, sell-side analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.