Virginia Retirement Systems ET AL cut its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 90,500 shares of the aerospace company’s stock after selling 2,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Spirit AeroSystems were worth $8,296,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of SPR. Allianz Asset Management GmbH grew its holdings in Spirit AeroSystems by 8.0% during the first quarter. Allianz Asset Management GmbH now owns 530,755 shares of the aerospace company’s stock worth $44,424,000 after acquiring an additional 39,242 shares during the period. DnB Asset Management AS grew its holdings in Spirit AeroSystems by 7.3% during the second quarter. DnB Asset Management AS now owns 14,700 shares of the aerospace company’s stock worth $1,263,000 after acquiring an additional 1,000 shares during the period. IFM Investors Pty Ltd grew its holdings in Spirit AeroSystems by 40.5% during the second quarter. IFM Investors Pty Ltd now owns 5,235 shares of the aerospace company’s stock worth $450,000 after acquiring an additional 1,509 shares during the period. State of Alaska Department of Revenue grew its holdings in Spirit AeroSystems by 51.3% during the second quarter. State of Alaska Department of Revenue now owns 13,750 shares of the aerospace company’s stock worth $1,181,000 after acquiring an additional 4,660 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in Spirit AeroSystems by 21.0% during the second quarter. Xact Kapitalforvaltning AB now owns 14,459 shares of the aerospace company’s stock worth $1,242,000 after acquiring an additional 2,507 shares during the period.
Shares of SPR opened at $88.92 on Friday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.29 and a beta of 1.25. Spirit AeroSystems Holdings, Inc. has a 1-year low of $77.54 and a 1-year high of $105.20. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.06 and a current ratio of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 annualized dividend and a yield of 0.54%. Spirit AeroSystems’s dividend payout ratio (DPR) is presently 8.97%.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total transaction of $42,685.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles L. Chadwell sold 11,500 shares of Spirit AeroSystems stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $87.33, for a total value of $1,004,295.00. Following the transaction, the director now directly owns 13,821 shares in the company, valued at approximately $1,206,987.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,500 shares of company stock worth $1,346,230. Company insiders own 0.87% of the company’s stock.
A number of research firms recently issued reports on SPR. Cowen reaffirmed a “buy” rating and set a $100.00 target price on shares of Spirit AeroSystems in a report on Wednesday, August 1st. ValuEngine raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Credit Suisse Group lowered their target price on Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. Bank of America raised Spirit AeroSystems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $105.00 in a report on Thursday. Finally, Zacks Investment Research raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $106.27.
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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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