Hennion & Walsh Asset Management Inc. Raises Holdings in Spirit Aerosystems Holdings, Inc. $SPR

Hennion & Walsh Asset Management Inc. raised its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 76.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,714 shares of the aerospace company’s stock after purchasing an additional 16,382 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Spirit Aerosystems were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Spirit Aerosystems by 33,966.7% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the aerospace company’s stock worth $39,000 after buying an additional 1,019 shares during the period. Farther Finance Advisors LLC grew its holdings in Spirit Aerosystems by 48.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 334 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Spirit Aerosystems in the 2nd quarter valued at approximately $204,000. Maryland State Retirement & Pension System acquired a new stake in shares of Spirit Aerosystems in the 2nd quarter valued at $207,000. Finally, Longboard Asset Management LP purchased a new stake in shares of Spirit Aerosystems during the 2nd quarter worth $234,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Spirit Aerosystems Price Performance

Shares of NYSE SPR opened at $39.44 on Friday. The company has a market cap of $4.64 billion, a PE ratio of -1.78 and a beta of 1.11. The stock has a fifty day moving average price of $37.84 and a 200 day moving average price of $38.93. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year high of $42.33.

Spirit Aerosystems (NYSE:SPR) last announced its quarterly earnings data on Friday, October 31st. The aerospace company reported ($4.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($4.50). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company earned ($3.03) earnings per share. Spirit Aerosystems’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SPR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spirit Aerosystems in a research note on Wednesday, October 8th. Zacks Research raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $38.63.

Spirit Aerosystems Profile

Spirit AeroSystems Holdings, Inc is one of the world’s largest independent manufacturers of aerostructures for commercial and defense aircraft. Established in 2005 as a spin-off from The Boeing Company’s Wichita division, Spirit designs, builds and assembles complex assemblies and components such as fuselages, wing systems, pylons and nacelles. The company’s core business activities center on lightweight composite and aluminum structures, advanced tooling, and aftermarket services to support the full life cycle of an aircraft.

In its commercial segment, Spirit AeroSystems supplies major airframers including Boeing and Airbus, producing critical sections for models such as the 737, 777, 787 and A350 families.