Verition Fund Management LLC purchased a new position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,572 shares of the aerospace company’s stock, valued at approximately $2,217,000.
A number of other large investors have also added to or reduced their stakes in the stock. Rocky Mountain Advisers LLC grew its stake in Spirit AeroSystems by 1,141.3% during the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the aerospace company’s stock worth $28,000 after buying an additional 525 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Spirit AeroSystems during the first quarter worth about $35,000. Neo Ivy Capital Management acquired a new stake in Spirit AeroSystems during the fourth quarter worth about $41,000. Captrust Financial Advisors acquired a new stake in Spirit AeroSystems during the first quarter worth about $54,000. Finally, Fifth Third Bancorp grew its stake in Spirit AeroSystems by 119.4% during the first quarter. Fifth Third Bancorp now owns 1,433 shares of the aerospace company’s stock worth $70,000 after buying an additional 780 shares in the last quarter. 75.61% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SPR opened at $43.56 on Thursday. The stock’s 50 day simple moving average is $47.20. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.74 and a current ratio of 2.68. Spirit AeroSystems Holdings, Inc. has a one year low of $17.26 and a one year high of $53.63.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Monday, June 14th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.09%. Spirit AeroSystems’s payout ratio is -0.70%.
A number of brokerages have issued reports on SPR. Credit Suisse Group increased their price objective on shares of Spirit AeroSystems from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Zacks Investment Research upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating and set a $44.00 price target on the stock in a research note on Wednesday. Finally, Cowen raised their price target on shares of Spirit AeroSystems from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $47.50.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc designs and manufactures commercial aerostructures 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 other structure components of the fuselage, such as floor beams.
Read More: Why do companies pay special dividends?
Want to see what other hedge funds are holding SPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit AeroSystems Holdings, Inc. (NYSE:SPR).
Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter.