Spirit Aerosystems Holdings, Inc. (SPR) Announces Quarterly Dividend of $0.10
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Monday, December 18th will be paid a dividend of 0.10 per share by the aerospace company on Monday, January 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Friday, December 15th.
Spirit Aerosystems Holdings has a dividend payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Spirit Aerosystems Holdings to earn $5.36 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 7.5%.
Spirit Aerosystems Holdings (NYSE SPR) traded down 1.18% during trading on Thursday, hitting $79.67. The stock had a trading volume of 629,453 shares. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 28.61 and a beta of 1.36. The company has a 50-day moving average of $78.14 and a 200 day moving average of $65.02. Spirit Aerosystems Holdings has a 52 week low of $49.95 and a 52 week high of $81.07.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts anticipate that Spirit Aerosystems Holdings will post $5.25 EPS for the current year.
Spirit Aerosystems Holdings announced that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several research firms recently commented on SPR. Cowen and Company reaffirmed a “buy” rating and set a $69.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Citigroup Inc reaffirmed a “buy” rating and set a $91.00 target price (up previously from $85.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating and set 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 raised Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub cut Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. Spirit Aerosystems Holdings has a consensus rating of “Hold” and an average price target of $76.17.
In other news, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total value of $752,564.80. Following the transaction, the senior vice president now owns 93,258 shares in the company, valued at $6,957,046.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total value of $504,834.00. Following the completion of the transaction, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.
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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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