Meritage Portfolio Management Sells 847 Shares of Spirit AeroSystems Holdings, Inc. (SPR)

Meritage Portfolio Management lessened its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,104 shares of the aerospace company’s stock after selling 847 shares during the period. Meritage Portfolio Management owned about 0.06% of Spirit AeroSystems worth $5,785,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Spirit AeroSystems in the first quarter worth $101,000. Truvestments Capital LLC bought a new stake in shares of Spirit AeroSystems in the third quarter worth $154,000. Atria Investments LLC bought a new stake in shares of Spirit AeroSystems in the second quarter worth $201,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Spirit AeroSystems in the second quarter worth $222,000. Finally, Narwhal Capital Management bought a new stake in shares of Spirit AeroSystems in the second quarter worth $260,000.

In other news, Director Charles L. Chadwell sold 11,500 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $87.33, for a total transaction of $1,004,295.00. Following the completion of the transaction, the director now owns 13,821 shares of the company’s stock, valued at $1,206,987.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $85.37, for a total transaction of $42,685.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,920 shares of company stock valued at $1,644,796. 0.87% of the stock is owned by insiders.

A number of brokerages recently issued reports on SPR. Zacks Investment Research lowered shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Credit Suisse Group dropped their price target on shares of Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. UBS Group began coverage on shares of Spirit AeroSystems in a research note on Wednesday, August 15th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Bank of America dropped their price target on shares of Spirit AeroSystems from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $103.88.

SPR stock opened at $82.50 on Wednesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.52 and a quick ratio of 1.04. Spirit AeroSystems Holdings, Inc. has a 1-year low of $76.00 and a 1-year high of $105.20. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.26.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 31st. The aerospace company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a net margin of 7.68% and a return on equity of 39.74%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post 6.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 14th. This represents a $0.48 annualized dividend and a yield of 0.58%. Spirit AeroSystems’s payout ratio is 8.97%.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.

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Institutional Ownership by Quarter for Spirit AeroSystems (NYSE:SPR)

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