Adage Capital Partners GP L.L.C. Boosts Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Adage Capital Partners GP L.L.C. boosted its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 73.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,438,791 shares of the aerospace company’s stock after purchasing an additional 1,029,989 shares during the period. Adage Capital Partners GP L.L.C. owned about 2.09% of Spirit AeroSystems worth $83,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SPR. Norges Bank bought a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $105,879,000. National Bank of Canada FI raised its position in Spirit AeroSystems by 47.2% in the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock worth $125,453,000 after acquiring an additional 1,181,147 shares during the period. Alpine Associates Management Inc. grew its position in shares of Spirit AeroSystems by 30.1% during the 4th 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. Bank of Nova Scotia grew its position in shares of Spirit AeroSystems by 788.3% during the 4th quarter. Bank of Nova Scotia now owns 660,000 shares of the aerospace company’s stock valued at $22,493,000 after acquiring an additional 585,700 shares during the period. Finally, Natixis purchased a new stake in shares of Spirit AeroSystems in the 4th quarter worth $18,806,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com began coverage on Spirit AeroSystems in a report on Saturday, March 8th. They set a “hold” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, February 11th. Fourteen analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Spirit AeroSystems has an average rating of “Hold” and an average target price of $36.56.

Spirit AeroSystems Stock Performance

SPR opened at $34.87 on Thursday. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -2.81 and a beta of 1.41. The company has a fifty day moving average of $33.59 and a 200 day moving average of $33.16. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.94 billion. On average, equities research analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current year.

About Spirit AeroSystems

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.