Icon Advisers Inc. Co. Purchases 50,500 Shares of Spirit Aerosystems Holdings, Inc. (SPR)
Icon Advisers Inc. Co. raised its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 54.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,500 shares of the aerospace company’s stock after acquiring an additional 50,500 shares during the quarter. Icon Advisers Inc. Co. owned 0.12% of Spirit Aerosystems Holdings worth $8,256,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after acquiring an additional 160 shares in the last quarter. Focused Wealth Management Inc grew its position in Spirit Aerosystems Holdings by 68.8% in the first quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock valued at $156,000 after acquiring an additional 1,100 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in Spirit Aerosystems Holdings in the second quarter valued at approximately $200,000. State of Alaska Department of Revenue grew its position in Spirit Aerosystems Holdings by 6.7% in the second quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after acquiring an additional 222 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Spirit Aerosystems Holdings in the second quarter valued at approximately $217,000. 98.60% of the stock is owned by institutional investors.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 10,088 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the sale, the senior vice president now directly owns 93,258 shares in the company, valued at $6,957,046.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
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Spirit Aerosystems Holdings, Inc. (SPR) traded down 0.20% during midday trading on Wednesday, reaching $74.56. The company’s stock had a trading volume of 244,177 shares. Spirit Aerosystems Holdings, Inc. has a 1-year low of $42.26 and a 1-year high of $76.15. The firm has a market capitalization of $8.82 billion, a PE ratio of 26.77 and a beta of 1.31. The firm has a 50 day moving average price of $69.60 and a 200 day moving average price of $60.54.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Spirit Aerosystems Holdings, Inc. will post $5.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is 14.60%.
Spirit Aerosystems Holdings declared that its board has approved a share repurchase program on Wednesday, August 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several analysts have issued reports on the stock. Royal Bank Of Canada set a $69.00 price objective on shares of Spirit Aerosystems Holdings and gave the company a “sell” rating in a research report on Sunday. Robert W. Baird reissued a “buy” rating and set a $86.00 price target on shares of Spirit Aerosystems Holdings in a research report on Friday, September 8th. ValuEngine raised shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group reissued an “outperform” rating and set a $80.00 price target (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. Finally, Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $72.94.
Spirit Aerosystems Holdings Company Profile
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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