Pinnacle Associates Ltd. purchased a new stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 199,784 shares of the aerospace company's stock, valued at approximately $6,349,000. Pinnacle Associates Ltd. owned approximately 0.17% of Spirit AeroSystems as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Spirit AeroSystems by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company's stock valued at $395,128,000 after purchasing an additional 109,632 shares during the last quarter. Pentwater Capital Management LP lifted its position in shares of Spirit AeroSystems by 18,132.0% in the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company's stock valued at $296,356,000 after acquiring an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP boosted its stake in Spirit AeroSystems by 1,274.6% in the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company's stock worth $170,066,000 after purchasing an additional 4,371,874 shares during the period. Maple Rock Capital Partners Inc. grew its position in Spirit AeroSystems by 7.2% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company's stock worth $159,538,000 after purchasing an additional 296,000 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in Spirit AeroSystems by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company's stock valued at $134,644,000 after purchasing an additional 105,350 shares during the period. Institutional investors and hedge funds own 93.59% of the company's stock.
Spirit AeroSystems Price Performance
Shares of SPR traded down $0.52 during mid-day trading on Thursday, reaching $32.37. The company had a trading volume of 1,599,115 shares, compared to its average volume of 3,064,414. The company has a market capitalization of $3.77 billion, a P/E ratio of -2.61 and a beta of 1.85. The company's 50-day moving average is $32.97 and its 200-day moving average is $32.86. Spirit AeroSystems Holdings, Inc. has a twelve month low of $20.98 and a twelve month high of $37.08.
Spirit AeroSystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.83 billion. As a group, equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -4.67 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Baird R W downgraded shares of Spirit AeroSystems from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 12th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Stifel Nicolaus upped their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a "hold" rating in a research note on Monday, July 8th. StockNews.com started coverage on Spirit AeroSystems in a research note on Thursday. They issued a "sell" rating on the stock. Finally, Citigroup reaffirmed a "neutral" rating and set a $37.25 target price (down previously from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Spirit AeroSystems has a consensus rating of "Hold" and an average price target of $35.54.
Check Out Our Latest Stock Analysis on SPR
Spirit AeroSystems Profile
(
Free Report)
Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.
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