Parallel Advisors LLC grew its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 1,685.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 482 shares of the aerospace company’s stock after purchasing an additional 455 shares during the quarter. Parallel Advisors LLC’s holdings in Spirit AeroSystems were worth $39,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in SPR. Redwood Investment Management LLC acquired a new stake in Spirit AeroSystems during the 1st quarter valued at $2,740,000. Neuberger Berman Group LLC lifted its position in Spirit AeroSystems by 1.8% in the 1st quarter. Neuberger Berman Group LLC now owns 629,145 shares of the aerospace company’s stock valued at $57,582,000 after purchasing an additional 11,126 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Spirit AeroSystems by 323.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 82,918 shares of the aerospace company’s stock valued at $7,589,000 after purchasing an additional 63,319 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Spirit AeroSystems by 1.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 113,634 shares of the aerospace company’s stock worth $10,401,000 after buying an additional 1,667 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Spirit AeroSystems by 4.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 6,275 shares of the aerospace company’s stock worth $574,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.
Spirit AeroSystems stock traded down $0.24 on Wednesday, hitting $77.61. The company’s stock had a trading volume of 500 shares, compared to its average volume of 1,048,571. The firm has a market cap of $7.90 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.26. The company has a quick ratio of 1.42, a current ratio of 1.96 and a debt-to-equity ratio of 1.47. The company has a fifty day moving average price of $75.40 and a 200-day moving average price of $84.43. Spirit AeroSystems Holdings, Inc. has a one year low of $64.48 and a one year high of $100.34.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, September 13th. Spirit AeroSystems’s payout ratio is 7.67%.
In other news, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $79.95, for a total value of $39,975.00. Following the sale, the director now owns 2,925 shares of the company’s stock, valued at approximately $233,853.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on SPR. SunTrust Banks downgraded shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and dropped their target price for the stock from $93.00 to $75.00 in a report on Friday, June 14th. Barclays reiterated a “buy” rating and issued a $95.00 target price on shares of Spirit AeroSystems in a research note on Sunday, August 4th. Zacks Investment Research cut shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $84.00 price objective for the company. in a research note on Monday, July 8th. Credit Suisse Group cut shares of Spirit AeroSystems from an “outperform” rating to a “neutral” rating and cut their target price for the company from $101.00 to $83.00 in a research note on Monday, July 15th. Finally, Jefferies Financial Group cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and cut their target price for the company from $106.00 to $85.00 in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Spirit AeroSystems currently has a consensus rating of “Hold” and an average target price of $94.43.
Spirit AeroSystems Profile
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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