Wells Fargo & Company MN Decreases Holdings in Spirit AeroSystems Holdings, Inc. (SPR)

Wells Fargo & Company MN lessened its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,721,997 shares of the aerospace company’s stock after selling 52,244 shares during the quarter. Wells Fargo & Company MN’s holdings in Spirit AeroSystems were worth $157,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DnB Asset Management AS grew its position in shares of Spirit AeroSystems by 7.3% during the second quarter. DnB Asset Management AS now owns 14,700 shares of the aerospace company’s stock worth $1,263,000 after buying an additional 1,000 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Spirit AeroSystems by 40.5% during the second quarter. IFM Investors Pty Ltd now owns 5,235 shares of the aerospace company’s stock worth $450,000 after buying an additional 1,509 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Spirit AeroSystems by 51.3% during the second quarter. State of Alaska Department of Revenue now owns 13,750 shares of the aerospace company’s stock worth $1,181,000 after buying an additional 4,660 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Spirit AeroSystems by 21.0% during the second quarter. Xact Kapitalforvaltning AB now owns 14,459 shares of the aerospace company’s stock worth $1,242,000 after buying an additional 2,507 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in shares of Spirit AeroSystems during the second quarter worth about $201,000.

Shares of NYSE SPR opened at $89.24 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.57 and a quick ratio of 1.06. Spirit AeroSystems Holdings, Inc. has a twelve month low of $77.54 and a twelve month high of $105.20. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.30 and a beta of 1.25.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, October 31st. The aerospace company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a return on equity of 46.86% and a net margin of 7.92%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, December 14th. Spirit AeroSystems’s dividend payout ratio is currently 8.97%.

In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total value of $42,685.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Duane F. Hawkins sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $85.50, for a total value of $299,250.00. Following the completion of the sale, the senior vice president now owns 41,191 shares of the company’s stock, valued at approximately $3,521,830.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $1,346,230. 0.87% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on the company. ValuEngine upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Credit Suisse Group decreased their target price on 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 assumed coverage on Spirit AeroSystems in a research note on Wednesday, August 15th. They set a “buy” rating and a $110.00 target price for the company. Bank of America decreased their target price on Spirit AeroSystems from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $106.27.

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Spirit AeroSystems 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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