Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Stock Position Lowered by Scopia Capital Management LP

Scopia Capital Management LP lowered its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,306,809 shares of the aerospace company’s stock after selling 1,421,890 shares during the period. Spirit AeroSystems makes up approximately 26.0% of Scopia Capital Management LP’s holdings, making the stock its largest holding. Scopia Capital Management LP owned about 4.09% of Spirit AeroSystems worth $209,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPR. Amundi Asset Management US Inc. grew its stake in shares of Spirit AeroSystems by 120.8% in the first quarter. Amundi Asset Management US Inc. now owns 2,729,865 shares of the aerospace company’s stock worth $132,807,000 after purchasing an additional 1,493,791 shares during the last quarter. Norges Bank bought a new stake in shares of Spirit AeroSystems in the fourth quarter worth about $57,030,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Spirit AeroSystems in the fourth quarter worth about $48,319,000. Artemis Investment Management LLP grew its stake in shares of Spirit AeroSystems by 93.7% in the first quarter. Artemis Investment Management LLP now owns 2,441,942 shares of the aerospace company’s stock worth $118,760,000 after purchasing an additional 1,181,170 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Spirit AeroSystems in the first quarter worth about $52,209,000. Hedge funds and other institutional investors own 75.61% of the company’s stock.

Shares of SPR traded down $0.21 during mid-day trading on Thursday, reaching $43.35. The company had a trading volume of 36,206 shares, compared to its average volume of 1,850,896. The company has a quick ratio of 1.74, a current ratio of 2.68 and a debt-to-equity ratio of 5.09. The stock’s 50-day moving average is $47.20. Spirit AeroSystems Holdings, Inc. has a 52 week low of $17.26 and a 52 week high of $53.63.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, May 4th. The aerospace company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.36). Spirit AeroSystems had a negative return on equity of 64.00% and a negative net margin of 27.23%. The company had revenue of $901.00 million during the quarter, compared to the consensus estimate of $883.40 million. During the same period in the prior year, the firm earned ($0.79) earnings per share. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. On average, equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -2.6 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 6th. Stockholders of record on Monday, June 14th were given a $0.01 dividend. The ex-dividend date was Friday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.09%. Spirit AeroSystems’s dividend payout ratio is currently -0.70%.

SPR has been the topic of several research reports. Zacks Investment Research raised Spirit AeroSystems from a “sell” rating to a “hold” rating and set a $44.00 price objective on the stock in a research report on Wednesday. Credit Suisse Group lifted their price objective on Spirit AeroSystems from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, May 6th. Finally, Cowen lifted their price objective on Spirit AeroSystems from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.50.

Spirit AeroSystems Profile

Spirit AeroSystems Holdings, Inc designs and manufactures commercial aerostructures 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 other structure components of the fuselage, such as floor beams.

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

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