Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the recipient of unusually large options trading on Monday. Stock investors purchased 1,901 call options on the stock. This is an increase of approximately 980% compared to the typical volume of 176 call options.
A number of brokerages have recently commented on SPR. Morgan Stanley boosted their price target on Spirit AeroSystems from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Jefferies Group reissued a “buy” rating and issued a $112.00 price target on shares of Spirit AeroSystems in a research report on Monday, February 5th. Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Spirit AeroSystems in a research report on Monday, February 5th. ValuEngine raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $115.00 price target on shares of Spirit AeroSystems in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen 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 $97.11.
Spirit AeroSystems (NYSE SPR) opened at $90.84 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10,419.64, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45. Spirit AeroSystems has a fifty-two week low of $51.85 and a fifty-two week high of $105.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Monday, March 19th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio is presently 13.25%.
Spirit AeroSystems declared that its board has approved a share buyback plan on Friday, February 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Spirit AeroSystems news, SVP William Edward Brown sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total transaction of $507,980.00. Following the transaction, the senior vice president now owns 21,664 shares in the company, valued at approximately $2,000,887.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacy Cozad sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $91.47, for a total value of $100,617.00. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SPR. Strs Ohio purchased a new position in shares of Spirit AeroSystems in the 4th quarter valued at $130,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Spirit AeroSystems in the 4th quarter valued at $166,000. Guggenheim Capital LLC purchased a new position in Spirit AeroSystems during the 4th quarter worth $207,000. LS Investment Advisors LLC purchased a new position in Spirit AeroSystems during the 4th quarter worth $208,000. Finally, American International Group Inc. purchased a new position in Spirit AeroSystems during the 4th quarter worth $211,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.
About Spirit AeroSystems
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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