Posted by admin on Jul 24th, 2022

Parallel Advisors LLC lowered its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 25.6% during the first quarter, Holdings Channel.com reports. The firm owned 882 shares of the aerospace company’s stock after selling 303 shares during the period. Parallel Advisors LLC’s holdings in Spirit AeroSystems were worth $43,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cerity Partners LLC acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at $1,662,000. Assenagon Asset Management S.A. acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at $30,323,000. Truist Financial Corp acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at $206,000. Mastrapasqua Asset Management Inc. acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at $1,414,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Spirit AeroSystems by 9.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,816 shares of the aerospace company’s stock valued at $724,000 after buying an additional 1,309 shares in the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.

NYSE:SPR opened at $33.86 on Friday. The stock has a 50-day simple moving average of $30.84 and a 200-day simple moving average of $40.20. The stock has a market cap of $3.56 billion, a P/E ratio of -8.36 and a beta of 1.70. Spirit AeroSystems Holdings, Inc. has a 1 year low of $26.18 and a 1 year high of $53.31. The company has a debt-to-equity ratio of 9.77, a quick ratio of 1.22 and a current ratio of 1.98.

Spirit AeroSystems (NYSE:SPR – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The aerospace company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.64. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Spirit AeroSystems had a negative return on equity of 51.61% and a negative net margin of 9.98%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.22) EPS. As a group, analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -0.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, September 9th. Spirit AeroSystems’s payout ratio is currently -0.99%.

SPR has been the subject of a number of research reports. StockNews.com initiated coverage on Spirit AeroSystems in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet cut Spirit AeroSystems from a “c-” rating to a “d+” rating in a research note on Wednesday, June 1st. Truist Financial lowered their target price on Spirit AeroSystems from $70.00 to $60.00 in a research note on Tuesday, July 19th. Sanford C. Bernstein lowered their target price on Spirit AeroSystems from $66.00 to $58.00 in a research note on Thursday, May 5th. Finally, Susquehanna lowered their target price on Spirit AeroSystems from $55.00 to $50.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.

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