Prudential Financial Inc. trimmed its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 30.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 904,500 shares of the aerospace company’s stock after selling 396,720 shares during the period. Prudential Financial Inc. owned approximately 0.78% of Spirit AeroSystems worth $70,298,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Raymond James Trust N.A. acquired a new stake in shares of Spirit AeroSystems during the 2nd quarter worth about $200,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth about $218,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth about $227,000. Hillsdale Investment Management Inc. increased its position in shares of Spirit AeroSystems by 23.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 740 shares in the last quarter. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth about $228,000. 96.12% of the stock is owned by institutional investors.
In other news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $84.13, for a total transaction of $42,065.00. Following the completion of the sale, the director now owns 1,964 shares in the company, valued at approximately $165,231.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Duane F. Hawkins sold 5,000 shares of Spirit AeroSystems stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the sale, the senior vice president now owns 39,374 shares of the company’s stock, valued at approximately $3,269,616.96. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. equities research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 5.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, December 15th. Spirit AeroSystems’s payout ratio is presently 14.08%.
SPR has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Royal Bank of Canada set a $69.00 target price on shares of Spirit AeroSystems and gave the stock a “sell” rating in a research report on Sunday, September 10th. Jefferies Group increased their target price on shares of Spirit AeroSystems from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Citigroup reiterated a “buy” rating and set a $85.00 target price on shares of Spirit AeroSystems in a research report on Tuesday, September 26th. Finally, Berenberg Bank initiated coverage on shares of Spirit AeroSystems in a research report on Tuesday, November 7th. They set a “buy” rating and a $100.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Spirit AeroSystems currently has an average rating of “Buy” and a consensus target price of $81.68.
Spirit AeroSystems 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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