Global X MANAGEMENT CO LLC Has $1.02 Million Holdings in Spirit Aerosystems Holdings, Inc. (SPR)
Global X MANAGEMENT CO LLC cut its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,100 shares of the aerospace company’s stock after selling 4,262 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Spirit Aerosystems Holdings were worth $1,018,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SPR. Nomura Asset Management Co. Ltd. increased its stake in shares of Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 160 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Spirit Aerosystems Holdings during the 2nd quarter worth about $200,000. State of Alaska Department of Revenue increased its stake in shares of Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after purchasing an additional 222 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Spirit Aerosystems Holdings during the 2nd quarter worth about $217,000. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Spirit Aerosystems Holdings during the 3rd quarter worth about $218,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Charles L. Chadwell sold 6,600 shares of the company’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 transaction of $504,834.00. Following the completion of the sale, the director now owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John A. Pilla sold 10,088 shares of the company’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 transaction of $752,564.80. Following the sale, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,688 shares of company stock valued at $1,672,599. 0.28% of the stock is currently owned by insiders.
Shares of Spirit Aerosystems Holdings, Inc. (SPR) opened at $79.90 on Thursday. Spirit Aerosystems Holdings, Inc. has a twelve month low of $51.85 and a twelve month high of $84.75. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a market cap of $9,348.20, a P/E ratio of 16.53, a PEG ratio of 1.43 and a beta of 1.16.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.26. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 31.14%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. research analysts forecast that Spirit Aerosystems Holdings, Inc. will post 5.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Monday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, December 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.08%.
Spirit Aerosystems Holdings declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on SPR. Cowen and Company restated an “outperform” rating and set a $79.00 price objective (up from $69.00) on shares of Spirit Aerosystems Holdings in a research note on Tuesday, August 8th. Royal Bank Of Canada set a $77.00 price objective on shares of Spirit Aerosystems Holdings and gave the stock a “sell” rating in a research note on Sunday. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price target (up previously from $65.00) on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 9th. Robert W. Baird reiterated a “buy” rating and issued a $86.00 price target on shares of Spirit Aerosystems Holdings in a research note on Friday, September 8th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Spirit Aerosystems Holdings from a “sell” rating to a “neutral” rating and upped their price target for the company from $54.00 to $68.00 in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $79.95.
About Spirit Aerosystems Holdings
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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