First Trust Advisors LP trimmed its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,006 shares of the aerospace company’s stock after selling 984 shares during the quarter. First Trust Advisors LP’s holdings in Spirit AeroSystems were worth $1,633,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new position in Spirit AeroSystems in the first quarter valued at approximately $101,000. Atria Investments LLC bought a new position in shares of Spirit AeroSystems during the 2nd quarter worth approximately $201,000. Lucia Wealth Services LLC bought a new position in shares of Spirit AeroSystems during the 1st quarter worth approximately $211,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Spirit AeroSystems during the 2nd quarter worth approximately $222,000. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Spirit AeroSystems during the 1st quarter worth approximately $232,000.
In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $85.50, for a total value of $299,250.00. Following the sale, the senior vice president now owns 41,191 shares in the company, valued at approximately $3,521,830.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $85.37, for a total value of $42,685.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,920 shares of company stock worth $1,644,796 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on SPR shares. UBS Group started coverage on Spirit AeroSystems in a research note on Wednesday, August 15th. They set a “buy” rating and a $110.00 target price for the company. Cowen reiterated a “buy” rating and set a $100.00 target price on shares of Spirit AeroSystems in a research note on Wednesday, August 1st. ValuEngine upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Tuesday, July 10th. Finally, Bank of America reduced their price target on Spirit AeroSystems from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Spirit AeroSystems has an average rating of “Buy” and an average price target of $103.17.
Shares of Spirit AeroSystems stock traded down $1.25 during trading on Friday, reaching $90.76. 842,389 shares of the company’s stock were exchanged, compared to its average volume of 1,091,487. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.04 and a current ratio of 1.52. Spirit AeroSystems Holdings, Inc. has a 1-year low of $76.00 and a 1-year high of $105.20. The stock has a market capitalization of $9.76 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 1st. The aerospace company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.12. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. Spirit AeroSystems had a return on equity of 39.74% and a net margin of 7.68%. Spirit AeroSystems’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. On average, research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Monday, September 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.53%. Spirit AeroSystems’s dividend payout ratio is currently 8.97%.
About Spirit AeroSystems
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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