Spirit AeroSystems Holdings, Inc. (SPR) Stake Increased by Swiss National Bank
Swiss National Bank grew its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,800 shares of the aerospace company’s stock after acquiring an additional 7,900 shares during the quarter. Swiss National Bank owned 0.33% of Spirit AeroSystems worth $32,543,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Spirit AeroSystems in the 1st quarter valued at about $101,000. Fulton Bank N.A. bought a new stake in shares of Spirit AeroSystems in the 1st quarter valued at about $201,000. Atria Investments LLC bought a new stake in shares of Spirit AeroSystems in the 2nd quarter valued at about $201,000. Guggenheim Capital LLC bought a new stake in shares of Spirit AeroSystems in the 4th quarter valued at about $207,000. Finally, Lucia Wealth Services LLC bought a new stake in shares of Spirit AeroSystems in the 1st quarter valued at about $211,000.
In other Spirit AeroSystems news, Director Charles L. Chadwell sold 11,500 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $87.33, for a total transaction of $1,004,295.00. Following the completion of the transaction, the director now owns 13,821 shares of the company’s stock, valued at approximately $1,206,987.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michelle Lohmeier sold 3,420 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $87.30, for a total value of $298,566.00. Following the transaction, the senior vice president now directly owns 33,037 shares of the company’s stock, valued at approximately $2,884,130.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,420 shares of company stock valued at $2,316,751. Insiders own 0.87% of the company’s stock.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, August 1st. The aerospace company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.12. Spirit AeroSystems had a return on equity of 39.74% and a net margin of 7.68%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.57 EPS. The business’s revenue was up .6% on a year-over-year basis. sell-side analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Monday, September 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, September 14th. Spirit AeroSystems’s dividend payout ratio (DPR) is currently 8.97%.
A number of analysts have recently commented on SPR shares. ValuEngine cut Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Bank of America decreased their price objective on Spirit AeroSystems from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. Canaccord Genuity decreased their price objective on Spirit AeroSystems from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Credit Suisse Group decreased their price objective on Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. Finally, Cowen reiterated a “buy” rating and issued a $100.00 price objective on shares of Spirit AeroSystems in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $101.21.
Spirit AeroSystems Profile
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through 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 offers related spares and maintenance, repairs, and overhaul (MRO) services.
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