Cornerstone Investment Partners LLC Buys 2,619 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Cornerstone Investment Partners LLC raised its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPRGet Rating) by 37.3% in the third quarter, Holdings Channel reports. The fund owned 9,644 shares of the aerospace company’s stock after acquiring an additional 2,619 shares during the period. Cornerstone Investment Partners LLC’s holdings in Spirit AeroSystems were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of Spirit AeroSystems by 11.6% during the second quarter. Jennison Associates LLC now owns 963,645 shares of the aerospace company’s stock valued at $28,235,000 after acquiring an additional 99,926 shares during the period. Cerity Partners LLC raised its holdings in shares of Spirit AeroSystems by 4.8% in the second quarter. Cerity Partners LLC now owns 35,641 shares of the aerospace company’s stock valued at $1,044,000 after buying an additional 1,636 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Spirit AeroSystems by 5,087.8% in the third quarter. Fifth Third Bancorp now owns 70,450 shares of the aerospace company’s stock valued at $1,544,000 after buying an additional 69,092 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Spirit AeroSystems by 42.9% in the first quarter. Bank of America Corp DE now owns 647,580 shares of the aerospace company’s stock valued at $31,660,000 after buying an additional 194,339 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. raised its holdings in shares of Spirit AeroSystems by 15.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 34,022 shares of the aerospace company’s stock valued at $745,000 after buying an additional 4,438 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Spirit AeroSystems Price Performance

Spirit AeroSystems stock opened at $32.90 on Wednesday. The firm has a market capitalization of $3.46 billion, a P/E ratio of -8.34, a PEG ratio of 8.33 and a beta of 1.64. Spirit AeroSystems Holdings, Inc. has a 1 year low of $21.14 and a 1 year high of $53.31. The business has a 50-day moving average of $29.17 and a 200-day moving average of $28.67. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 15.16.

Spirit AeroSystems (NYSE:SPRGet Rating) last posted its earnings results on Thursday, November 3rd. The aerospace company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.24. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. Spirit AeroSystems had a negative return on equity of 89.53% and a negative net margin of 8.85%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.13) EPS. On average, equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -1.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPR. Truist Financial lifted their price target on Spirit AeroSystems from $39.00 to $42.00 in a report on Monday, January 9th. Bank of America cut Spirit AeroSystems from a “buy” rating to an “underperform” rating and cut their price target for the company from $49.00 to $26.00 in a report on Friday, November 11th. StockNews.com raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Monday. Bank Of America (Bofa) cut Spirit AeroSystems to an “underperform” rating in a report on Friday, November 11th. Finally, Morgan Stanley dropped their price objective on Spirit AeroSystems from $35.00 to $27.00 and set an “underweight” rating for the company in a report on Monday, November 7th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.09.

Spirit AeroSystems Company Profile

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Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.

See Also

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

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