Posted by admin on Aug 5th, 2022

Victory Capital Management Inc. boosted its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 26.0% in the 1st quarter, Holdings Channel reports. The firm owned 427,210 shares of the aerospace company’s stock after acquiring an additional 88,286 shares during the quarter. Victory Capital Management Inc.’s holdings in Spirit AeroSystems were worth $20,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Selective Wealth Management Inc. acquired a new position in Spirit AeroSystems in the 1st quarter valued at $50,000. Rockefeller Capital Management L.P. increased its stake in shares of Spirit AeroSystems by 242.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,197 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 847 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Spirit AeroSystems by 97.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,335 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 659 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Spirit AeroSystems in the 4th quarter worth $65,000. Finally, CWM LLC acquired a new stake in shares of Spirit AeroSystems in the 4th quarter worth $118,000. 79.33% of the stock is owned by institutional investors and hedge funds.

Shares of Spirit AeroSystems stock opened at $30.42 on Friday. The business has a 50-day moving average of $31.33 and a 200 day moving average of $39.32. Spirit AeroSystems Holdings, Inc. has a 12 month low of $26.18 and a 12 month high of $53.31. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -7.51 and a beta of 1.69. The company has a debt-to-equity ratio of 9.77, a current ratio of 1.98 and a quick ratio of 1.22.

Spirit AeroSystems (NYSE:SPR – Get Rating) last announced its earnings results on Wednesday, August 3rd. The aerospace company reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.00). Spirit AeroSystems had a negative net margin of 9.98% and a negative return on equity of 51.61%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business earned ($0.31) earnings per share. The business’s revenue was up 25.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Spirit AeroSystems Holdings, Inc. will post -0.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Friday, September 9th. Spirit AeroSystems’s payout ratio is presently -0.99%.

SPR has been the subject of a number of recent research reports. Sanford C. Bernstein cut their target price on Spirit AeroSystems from $66.00 to $58.00 in a research note on Thursday, May 5th. Robert W. Baird cut their target price on Spirit AeroSystems from $53.00 to $43.00 in a research note on Thursday. Morgan Stanley cut their target price on Spirit AeroSystems from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday. TheStreet downgraded Spirit AeroSystems from a “c-” rating to a “d+” rating in a research note on Wednesday, June 1st. Finally, Susquehanna cut their price objective on Spirit AeroSystems from $50.00 to $41.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.27.

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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