Wells Fargo & Company MN Decreases Holdings in Spirit AeroSystems Holdings, Inc. (SPR)

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Wells Fargo & Company MN lowered its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,721,997 shares of the aerospace company’s stock after selling 52,244 shares during the period. Wells Fargo & Company MN owned 1.62% of Spirit AeroSystems worth $157,856,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. DnB Asset Management AS lifted its stake in Spirit AeroSystems by 7.3% in the 2nd quarter. DnB Asset Management AS now owns 14,700 shares of the aerospace company’s stock valued at $1,263,000 after purchasing an additional 1,000 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Spirit AeroSystems by 40.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,235 shares of the aerospace company’s stock valued at $450,000 after purchasing an additional 1,509 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Spirit AeroSystems by 51.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,750 shares of the aerospace company’s stock valued at $1,181,000 after purchasing an additional 4,660 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Spirit AeroSystems by 21.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,459 shares of the aerospace company’s stock valued at $1,242,000 after purchasing an additional 2,507 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Spirit AeroSystems in the 2nd quarter valued at about $201,000.

In other news, SVP Duane F. Hawkins sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $85.50, for a total transaction of $299,250.00. Following the transaction, the senior vice president now directly owns 41,191 shares of the company’s stock, valued at $3,521,830.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total transaction of $42,685.00. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $1,346,230 over the last ninety days. Insiders own 0.87% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Cowen reiterated a “buy” rating and issued a $100.00 target price on shares of Spirit AeroSystems in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Credit Suisse Group cut their price objective on shares of Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. Bank of America upgraded shares of Spirit AeroSystems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $105.00 in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $106.27.

Shares of SPR stock opened at $89.24 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.57 and a quick ratio of 1.06. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.30 and a beta of 1.25. Spirit AeroSystems Holdings, Inc. has a 12-month low of $77.54 and a 12-month high of $105.20.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, October 31st. The aerospace company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a net margin of 7.92% and a return on equity of 46.86%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm earned $1.26 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Spirit AeroSystems’s dividend payout ratio is presently 8.97%.

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Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through 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 offers related spares and maintenance, repairs, and overhaul (MRO) services.

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Institutional Ownership by Quarter for Spirit AeroSystems (NYSE:SPR)

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