Bank of Nova Scotia Raises Stock Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Bank of Nova Scotia grew its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) by 788.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 660,000 shares of the aerospace company's stock after buying an additional 585,700 shares during the period. Bank of Nova Scotia owned 0.56% of Spirit AeroSystems worth $22,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPR. JPMorgan Chase & Co. boosted its holdings in shares of Spirit AeroSystems by 32.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,837 shares of the aerospace company's stock worth $15,047,000 after purchasing an additional 112,286 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Spirit AeroSystems during the 4th quarter worth $520,000. SBI Securities Co. Ltd. acquired a new position in shares of Spirit AeroSystems during the 4th quarter valued at about $32,000. Oak Family Advisors LLC acquired a new stake in Spirit AeroSystems during the fourth quarter worth about $999,000. Finally, Spectrum Financial Alliance Ltd LLC acquired a new position in Spirit AeroSystems in the 4th quarter valued at about $2,270,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Trading Up 0.9 %

Shares of Spirit AeroSystems stock traded up $0.30 during trading hours on Tuesday, hitting $33.21. 370,896 shares of the company were exchanged, compared to its average volume of 1,316,496. The business has a 50-day moving average of $33.72 and a 200-day moving average of $33.12. Spirit AeroSystems Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $37.08. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -2.67 and a beta of 1.41.

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Spirit AeroSystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.94 billion. As a group, research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPR. TD Cowen upgraded Spirit AeroSystems to a "strong-buy" rating in a research report on Thursday, December 19th. StockNews.com assumed coverage on shares of Spirit AeroSystems in a report on Saturday, March 8th. They issued a "hold" rating on the stock. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Fifteen analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Spirit AeroSystems presently has a consensus rating of "Hold" and an average target price of $36.00.

Spirit AeroSystems Company Profile

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.