Spirit Aerosystems Holdings, Inc. (SPR) Position Trimmed by Newtyn Management LLC
Newtyn Management LLC decreased its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 786,300 shares of the aerospace company’s stock after selling 38,700 shares during the quarter. Spirit Aerosystems Holdings makes up approximately 7.7% of Newtyn Management LLC’s portfolio, making the stock its 7th biggest position. Newtyn Management LLC owned approximately 0.66% of Spirit Aerosystems Holdings worth $45,558,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 160 shares in the last quarter. Raymond James Trust N.A. purchased a new position in Spirit Aerosystems Holdings in the second quarter valued at approximately $200,000. State of Alaska Department of Revenue increased its stake in Spirit Aerosystems Holdings by 6.7% in the second quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 222 shares during the last quarter. Parametrica Management Ltd purchased a new position in Spirit Aerosystems Holdings in the second quarter valued at approximately $217,000. Finally, Hillsdale Investment Management Inc. raised its holdings in Spirit Aerosystems Holdings by 23.2% during the second quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
SPR has been the topic of a number of research analyst reports. BidaskClub raised shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $68.00 target price on shares of Spirit Aerosystems Holdings and gave the company a “buy” rating in a report on Thursday, June 22nd. Morgan Stanley restated an “overweight” rating and issued a $66.00 target price (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, July 13th. Cowen and Company reaffirmed a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Finally, Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and increased their target price for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Spirit Aerosystems Holdings presently has a consensus rating of “Hold” and an average target price of $75.28.
In related news, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the sale, the senior vice president now owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the completion of the sale, the director now directly owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) traded up 0.91% on Wednesday, hitting $78.38. The stock had a trading volume of 506,451 shares. The company’s 50 day moving average price is $74.77 and its 200-day moving average price is $62.52. Spirit Aerosystems Holdings, Inc. has a 12-month low of $45.04 and a 12-month high of $79.29. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 28.14 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $1.21 earnings per share. Spirit Aerosystems Holdings’s revenue was down .2% on a year-over-year basis. Equities research analysts anticipate that Spirit Aerosystems Holdings, Inc. will post $5.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.
Spirit Aerosystems Holdings declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Spirit Aerosystems Holdings Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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