Meeder Asset Management Inc. lowered its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,964 shares of the aerospace company’s stock after selling 8,653 shares during the period. Meeder Asset Management Inc.’s holdings in Spirit Aerosystems Holdings were worth $1,794,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after buying an additional 616,129 shares during the last quarter. BlackRock Inc. raised its position in Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock valued at $355,164,000 after buying an additional 6,078,359 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Spirit Aerosystems Holdings by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock valued at $290,100,000 after buying an additional 305,946 shares during the last quarter. AQR Capital Management LLC raised its position in Spirit Aerosystems Holdings by 12.7% in the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock valued at $224,937,000 after buying an additional 436,784 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Spirit Aerosystems Holdings by 11.1% in the first quarter. Wells Fargo & Company MN now owns 3,695,032 shares of the aerospace company’s stock valued at $214,016,000 after buying an additional 369,308 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) traded down 0.77% during mid-day trading on Tuesday, hitting $70.75. The stock had a trading volume of 1,190,499 shares. Spirit Aerosystems Holdings, Inc. has a 52 week low of $42.26 and a 52 week high of $73.86. The company’s 50 day moving average is $60.19 and its 200-day moving average is $57.94. The stock has a market capitalization of $8.37 billion, a P/E ratio of 25.37 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $1.21 EPS. Spirit Aerosystems Holdings’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that Spirit Aerosystems Holdings, Inc. will post $5.07 EPS for the current fiscal year.
Spirit Aerosystems Holdings declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. Spirit Aerosystems Holdings’s dividend payout ratio is currently 14.60%.
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Several equities analysts recently issued reports on the company. Canaccord Genuity boosted their price objective on Spirit Aerosystems Holdings from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $80.00 price objective (up from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. Seaport Global Securities upgraded Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. BidaskClub upgraded Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley boosted their target price on Spirit Aerosystems Holdings from $66.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $68.80.
In related news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the transaction, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $113,912. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by company insiders.
Spirit Aerosystems Holdings 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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