Martingale Asset Management L P Lowers Holdings in Spirit AeroSystems Holdings, Inc. (SPR)

Martingale Asset Management L P decreased its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 17.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,004 shares of the aerospace company’s stock after selling 34,769 shares during the period. Martingale Asset Management L P owned 0.15% of Spirit AeroSystems worth $14,669,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. LSV Asset Management raised its position in shares of Spirit AeroSystems by 2.8% in the second quarter. LSV Asset Management now owns 5,178,473 shares of the aerospace company’s stock valued at $444,882,000 after purchasing an additional 138,708 shares during the period. Scopia Capital Management LP grew its stake in Spirit AeroSystems by 4.9% during the second quarter. Scopia Capital Management LP now owns 5,050,529 shares of the aerospace company’s stock valued at $433,891,000 after acquiring an additional 236,079 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Spirit AeroSystems by 35.9% during the second quarter. OppenheimerFunds Inc. now owns 1,640,092 shares of the aerospace company’s stock valued at $140,900,000 after acquiring an additional 433,677 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Spirit AeroSystems by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,279,824 shares of the aerospace company’s stock valued at $109,948,000 after acquiring an additional 31,891 shares in the last quarter. Finally, J. L. Bainbridge & Co. Inc. purchased a new position in Spirit AeroSystems during the second quarter valued at approximately $70,804,000. 99.19% of the stock is currently owned by institutional investors and hedge funds.

In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $85.37, for a total value of $42,685.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John A. Pilla sold 9,642 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $84.01, for a total transaction of $810,024.42. Following the completion of the transaction, the senior vice president now directly owns 21,866 shares of the company’s stock, valued at approximately $1,836,962.66. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.

Several equities analysts recently commented on SPR shares. Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of Spirit AeroSystems in a research note on Wednesday, August 1st. Wells Fargo & Co set a $105.00 price objective on shares of Spirit AeroSystems and gave the company a “buy” rating in a research note on Thursday, November 1st. Credit Suisse Group boosted their price objective on shares of Spirit AeroSystems from $102.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Bank of America raised shares of Spirit AeroSystems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $105.00 in a research note on Thursday, November 8th. Finally, ValuEngine cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Spirit AeroSystems has a consensus rating of “Buy” and a consensus target price of $106.27.

SPR stock opened at $79.12 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.57 and a quick ratio of 1.06. Spirit AeroSystems Holdings, Inc. has a one year low of $77.54 and a one year high of $105.20. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.65 and a beta of 1.25.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, October 31st. The aerospace company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a net margin of 7.92% and a return on equity of 46.86%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. Spirit AeroSystems’s dividend payout ratio is presently 8.97%.

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Spirit AeroSystems Profile

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.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Spirit AeroSystems (NYSE:SPR)

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