Spirit Aerosystems Holdings, Inc. (SPR) Position Raised by Northpointe Capital LLC

Northpointe Capital LLC increased its stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 49,410 shares of the aerospace company’s stock after buying an additional 989 shares during the period. Northpointe Capital LLC’s holdings in Spirit Aerosystems Holdings were worth $2,863,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SPR. Nomura Asset Management Co. Ltd. increased its stake 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 buying an additional 160 shares during the last quarter. Focused Wealth Management Inc increased its stake in Spirit Aerosystems Holdings by 68.8% in the first quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock valued at $156,000 after buying an additional 1,100 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock valued at $192,000 after buying an additional 149 shares during the last quarter. Parametrica Management Ltd bought a new stake in Spirit Aerosystems Holdings during the second quarter valued at approximately $217,000. Finally, PNC Financial Services Group Inc. increased its stake in Spirit Aerosystems Holdings by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock valued at $247,000 after buying an additional 710 shares during the last quarter. 99.25% of the stock is owned by institutional investors.

Spirit Aerosystems Holdings, Inc. (NYSE SPR) opened at 70.19 on Thursday. Spirit Aerosystems Holdings, Inc. has a 52-week low of $42.26 and a 52-week high of $73.86. The firm’s 50-day moving average price is $63.15 and its 200 day moving average price is $58.65. The company has a market cap of $8.30 billion, a PE ratio of 25.20 and a beta of 1.36.

Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $1.21 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts predict that Spirit Aerosystems Holdings, Inc. will post $5.16 EPS for the current fiscal year.

Spirit Aerosystems Holdings announced that its board has initiated a share repurchase plan on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. Spirit Aerosystems Holdings’s payout ratio is 14.60%.

ILLEGAL ACTIVITY WARNING: “Spirit Aerosystems Holdings, Inc. (SPR) Position Raised by Northpointe Capital LLC” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://sportsperspectives.com/2017/08/17/spirit-aerosystems-holdings-inc-spr-position-raised-by-northpointe-capital-llc.html.

Several equities research analysts have recently commented on the company. UBS AG raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) raised Spirit Aerosystems Holdings from a “sell” rating to a “neutral” rating and increased their price objective for the company from $54.00 to $68.00 in a report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price objective (up previously from $65.00) on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 9th. Seaport Global Securities raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $83.00 in a report on Thursday, August 3rd. Finally, BidaskClub downgraded Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $69.56.

In related news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total transaction of $246,326.00. Following the sale, the director now directly owns 1,964 shares in the company, valued at approximately $113,912. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.

About Spirit Aerosystems Holdings

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.

Want to see what other hedge funds are holding SPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Aerosystems Holdings, Inc. (NYSE:SPR).

Institutional Ownership by Quarter for Spirit Aerosystems Holdings (NYSE:SPR)

Receive News & Ratings for Spirit Aerosystems Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Aerosystems Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply