Stevens Capital Management LP Grows Stock Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Stevens Capital Management LP raised its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 216.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,742 shares of the aerospace company’s stock after buying an additional 33,337 shares during the quarter. Stevens Capital Management LP’s holdings in Spirit AeroSystems were worth $3,966,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPR. Steward Partners Investment Advisory LLC acquired a new position in shares of Spirit AeroSystems during the second quarter valued at about $40,000. Truvestments Capital LLC acquired a new position in shares of Spirit AeroSystems during the first quarter valued at about $42,000. Smithfield Trust Co. increased its holdings in Spirit AeroSystems by 538.5% in the 1st quarter. Smithfield Trust Co. now owns 830 shares of the aerospace company’s stock worth $76,000 after buying an additional 700 shares during the period. Advisors Preferred LLC acquired a new position in Spirit AeroSystems in the 1st quarter worth approximately $76,000. Finally, Signaturefd LLC increased its holdings in Spirit AeroSystems by 120.0% in the 1st quarter. Signaturefd LLC now owns 970 shares of the aerospace company’s stock worth $89,000 after buying an additional 529 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

In other news, Director Robert D. Johnson sold 500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $79.95, for a total transaction of $39,975.00. Following the transaction, the director now owns 2,925 shares in the company, valued at approximately $233,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.84% of the company’s stock.

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Spirit AeroSystems from $103.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday. SunTrust Banks downgraded shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and cut their price target for the stock from $93.00 to $75.00 in a report on Friday, June 14th. Cowen reiterated a “hold” rating and issued a $90.00 price target on shares of Spirit AeroSystems in a report on Monday, July 8th. Barclays reiterated a “buy” rating and issued a $95.00 price target on shares of Spirit AeroSystems in a report on Sunday, August 4th. Finally, Zacks Investment Research downgraded shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $84.00 price target on the stock. in a report on Monday, July 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $95.55.

Spirit AeroSystems stock traded down $1.74 during mid-day trading on Wednesday, hitting $71.10. The company had a trading volume of 23,936 shares, compared to its average volume of 1,020,201. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.96 and a quick ratio of 1.42. Spirit AeroSystems Holdings, Inc. has a 12-month low of $64.48 and a 12-month high of $100.34. The firm’s fifty day moving average is $76.77. The stock has a market cap of $7.70 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, July 31st. The aerospace company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.07. Spirit AeroSystems had a return on equity of 56.85% and a net margin of 8.88%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Spirit AeroSystems Holdings, Inc. will post 6.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. Spirit AeroSystems’s dividend payout ratio (DPR) is 7.67%.

Spirit AeroSystems Profile

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in 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 related spares, as well as maintenance, repairs, and overhaul (MRO) services.

Further Reading: Recession

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

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