Investors Buy Spirit Aerosystems Holdings, Inc. (SPR) on Weakness on Insider Selling

Traders purchased shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) on weakness during trading hours on Monday following insider selling activity. $27.72 million flowed into the stock on the tick-up and $12.49 million flowed out of the stock on the tick-down, for a money net flow of $15.23 million into the stock. Of all companies tracked, Spirit Aerosystems Holdings had the 22nd highest net in-flow for the day. Spirit Aerosystems Holdings traded down ($0.28) for the day and closed at $75.27Specifically, SVP John A. Pilla sold 10,088 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total value of $752,564.80. Following the completion of the sale, the senior vice president now owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Several brokerages have commented on SPR. Cowen and Company reaffirmed a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 target price (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, August 3rd. ValuEngine upgraded shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub cut shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $86.00 price target on shares of Spirit Aerosystems Holdings in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $72.94.

The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 26.83 and a beta of 1.31. The company has a 50-day moving average of $69.60 and a 200 day moving average of $60.54.

Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.37. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. Spirit Aerosystems Holdings’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. On average, equities analysts forecast that Spirit Aerosystems Holdings, Inc. will post $5.19 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.

Spirit Aerosystems Holdings announced that its Board of Directors has approved a share buyback plan on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Spirit Aerosystems Holdings by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after purchasing an additional 616,129 shares in the last quarter. BlackRock Inc. increased its stake in Spirit Aerosystems Holdings by 2.4% during the 2nd quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock valued at $363,874,000 after purchasing an additional 148,240 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Spirit Aerosystems Holdings by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock valued at $290,100,000 after purchasing an additional 305,946 shares in the last quarter. AQR Capital Management LLC increased its stake in Spirit Aerosystems Holdings by 12.7% during the 1st quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock valued at $224,937,000 after purchasing an additional 436,784 shares in the last quarter. Finally, LSV Asset Management increased its stake in Spirit Aerosystems Holdings by 9.8% during the 2nd quarter. LSV Asset Management now owns 3,468,615 shares of the aerospace company’s stock valued at $200,971,000 after purchasing an additional 308,900 shares in the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.

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Spirit Aerosystems Holdings Company 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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