American International Group Inc. acquired a new stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) during the fourth quarter, Holdings Channel reports. The fund acquired 2,424 shares of the aerospace company’s stock, valued at approximately $211,000.
Several other hedge funds also recently bought and sold shares of SPR. Strs Ohio purchased a new position in shares of Spirit AeroSystems during the 4th quarter valued at about $130,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Spirit AeroSystems in the 4th quarter worth approximately $166,000. LS Investment Advisors LLC purchased a new position in Spirit AeroSystems in the 4th quarter worth approximately $208,000. Commonwealth Equity Services Inc purchased a new position in Spirit AeroSystems in the 3rd quarter worth approximately $228,000. Finally, Candriam Luxembourg S.C.A. purchased a new position in Spirit AeroSystems in the 4th quarter worth approximately $234,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on SPR shares. Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Spirit AeroSystems in a report on Monday, January 22nd. Seaport Global Securities reissued a “buy” rating and issued a $120.00 price target on shares of Spirit AeroSystems in a report on Thursday, January 18th. Jefferies Group reissued a “buy” rating and issued a $112.00 price target on shares of Spirit AeroSystems in a report on Monday, February 5th. ValuEngine raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $115.00 price objective on shares of Spirit AeroSystems in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $97.11.
Spirit AeroSystems (NYSE:SPR) last released its earnings results on Friday, February 2nd. The aerospace company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.10. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. Spirit AeroSystems had a return on equity of 34.03% and a net margin of 5.08%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post 6.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio is currently 12.23%.
Spirit AeroSystems declared that its board has authorized a stock buyback plan on Friday, February 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, SVP Stacy Cozad sold 1,100 shares of the business’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 transaction of $100,617.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP William Edward Brown sold 5,500 shares of the business’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 transaction, the senior vice president now directly owns 21,664 shares in the company, valued at approximately $2,000,887.04. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
About Spirit AeroSystems
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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