ETRADE Capital Management LLC boosted its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,195 shares of the aerospace company’s stock after purchasing an additional 1,519 shares during the quarter. ETRADE Capital Management LLC’s holdings in Spirit AeroSystems were worth $1,064,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SPR. BlackRock Inc. raised its stake in Spirit AeroSystems by 18.7% in the fourth quarter. BlackRock Inc. now owns 7,616,743 shares of the aerospace company’s stock valued at $664,561,000 after purchasing an additional 1,200,213 shares in the last quarter. LSV Asset Management raised its stake in Spirit AeroSystems by 19.5% in the fourth quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock valued at $443,303,000 after purchasing an additional 827,943 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Spirit AeroSystems by 79.9% in the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock valued at $57,813,000 after purchasing an additional 330,903 shares in the last quarter. Impala Asset Management LLC acquired a new position in Spirit AeroSystems in the fourth quarter valued at about $28,076,000. Finally, APG Asset Management N.V. raised its stake in Spirit AeroSystems by 167.3% in the fourth quarter. APG Asset Management N.V. now owns 454,400 shares of the aerospace company’s stock valued at $33,017,000 after purchasing an additional 284,400 shares in the last quarter. 96.28% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Stacy Cozad sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $91.47, for a total value of $100,617.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William Edward Brown sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $92.36, for a total value of $507,980.00. Following the completion of the transaction, the senior vice president now directly owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.10. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. analysts expect that Spirit AeroSystems Holdings, Inc. will post 6.42 EPS for the current fiscal year.
Spirit AeroSystems declared that its board has initiated a stock buyback plan on Friday, February 2nd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio is currently 12.23%.
A number of research firms recently commented on SPR. Zacks Investment Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Wednesday, January 10th. ValuEngine downgraded Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Cowen reissued a “buy” rating and set a $110.00 target price on shares of Spirit AeroSystems in a research note on Monday, February 5th. Canaccord Genuity reissued a “buy” rating and set a $115.00 target price on shares of Spirit AeroSystems in a research note on Monday, January 29th. Finally, Royal Bank of Canada set a $77.00 target price on Spirit AeroSystems and gave the stock a “sell” rating in a research note on Sunday, November 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $97.11.
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Spirit AeroSystems 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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