State Board of Administration of Florida Retirement System Has $10.25 Million Position in Spirit Aerosystems Holdings, Inc. (SPR)
State Board of Administration of Florida Retirement System increased its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,911 shares of the aerospace company’s stock after buying an additional 396 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Spirit Aerosystems Holdings worth $10,250,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock worth $355,164,000 after buying an additional 6,078,359 shares during the period. Boston Partners bought a new stake in Spirit Aerosystems Holdings during the second quarter worth approximately $140,460,000. Vanguard Group Inc. raised its stake in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock worth $668,939,000 after buying an additional 616,129 shares during the period. AQR Capital Management LLC raised its stake in Spirit Aerosystems Holdings by 12.7% in the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock worth $224,937,000 after buying an additional 436,784 shares during the period. Finally, Thrivent Financial For Lutherans bought a new stake in Spirit Aerosystems Holdings during the first quarter worth approximately $22,440,000. Hedge funds and other institutional investors own 98.60% of the company’s stock.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) opened at 73.45 on Thursday. Spirit Aerosystems Holdings, Inc. has a 12 month low of $42.26 and a 12 month high of $73.86. The company’s 50 day moving average price is $65.44 and its 200 day moving average price is $59.32. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 26.37 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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%. Spirit Aerosystems Holdings’s revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. On average, equities analysts expect that Spirit Aerosystems Holdings, Inc. will post $5.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s payout ratio is 14.60%.
Spirit Aerosystems Holdings announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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SPR has been the topic of a number of analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $74.00 price target on shares of Spirit Aerosystems Holdings in a research report on Friday, May 5th. BidaskClub lowered Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC set a $68.00 price target on Spirit Aerosystems Holdings and gave the company a “buy” rating in a research report on Thursday, June 22nd. Cowen and Company reiterated a “buy” rating and issued a $69.00 price target on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Spirit Aerosystems Holdings presently has an average rating of “Hold” and an average price target of $70.69.
In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the sale, the director now directly owns 1,964 shares in the company, valued at $113,912. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.28% of the company’s stock.
About Spirit Aerosystems Holdings
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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