Wexford Capital LP grew its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 110.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,192 shares of the aerospace company’s stock after acquiring an additional 79,794 shares during the quarter. Spirit AeroSystems comprises 0.9% of Wexford Capital LP’s holdings, making the stock its 13th largest holding. Wexford Capital LP owned 0.14% of Spirit AeroSystems worth $13,951,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jefferies Group LLC grew its holdings in Spirit AeroSystems by 154.8% during the third quarter. Jefferies Group LLC now owns 35,105 shares of the aerospace company’s stock worth $3,218,000 after buying an additional 21,330 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Spirit AeroSystems during the third quarter worth $784,000. OZ Management LP grew its holdings in Spirit AeroSystems by 33.1% during the third quarter. OZ Management LP now owns 2,711,165 shares of the aerospace company’s stock worth $248,533,000 after buying an additional 674,692 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in Spirit AeroSystems during the third quarter worth $493,000. Finally, OppenheimerFunds Inc. grew its holdings in Spirit AeroSystems by 1.8% during the third quarter. OppenheimerFunds Inc. now owns 1,669,049 shares of the aerospace company’s stock worth $153,002,000 after buying an additional 28,957 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.
In other news, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $82.90, for a total transaction of $41,450.00. Following the transaction, the director now owns 1,493 shares of the company’s stock, valued at approximately $123,769.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John A. Pilla sold 9,642 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $84.01, for a total value of $810,024.42. Following the transaction, the senior vice president now directly owns 21,866 shares in the company, valued at approximately $1,836,962.66. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, October 31st. The aerospace company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. Spirit AeroSystems’s dividend payout ratio is presently 8.97%.
Several brokerages recently issued reports on SPR. UBS Group began coverage on Spirit AeroSystems in a report on Wednesday, August 15th. They set a “buy” rating and a $110.00 price target for the company. Standpoint Research upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Bank of America upgraded Spirit AeroSystems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $105.00 in a report on Thursday, November 8th. Credit Suisse Group upped their price target on Spirit AeroSystems from $102.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 1st. Finally, Wells Fargo & Co set a $105.00 price target on Spirit AeroSystems and gave the stock a “buy” rating in a report on Thursday, November 1st. 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. Spirit AeroSystems currently has an average rating of “Buy” and an average price target of $106.27.
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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