Spirit AeroSystems (NYSE:SPR) Rating Reiterated by Cowen
Cowen reissued their hold rating on shares of Spirit AeroSystems (NYSE:SPR) in a research report report published on Monday, AnalystRatings.com reports. The brokerage currently has a $90.00 price objective on the aerospace company’s stock.
SPR has been the subject of a number of other reports. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Barclays reissued a buy rating and issued a $138.00 price target on shares of EOG Resources in a report on Wednesday, March 13th. Zacks Investment Research cut shares of Inflarx from a buy rating to a hold rating in a research report on Friday, May 3rd. SunTrust Banks cut their target price on shares of Broadcom to $307.00 and set a buy rating on the stock in a research note on Friday, June 14th. Finally, Canaccord Genuity set a $220.00 price target on shares of SAGE Therapeutics and gave the company a buy rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $97.66.
Shares of NYSE:SPR opened at $75.16 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.39 and a debt-to-equity ratio of 1.71. The stock’s fifty day moving average is $80.76. Spirit AeroSystems has a fifty-two week low of $64.48 and a fifty-two week high of $100.34. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, June 17th were given a $0.12 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Spirit AeroSystems’s payout ratio is 7.67%.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated 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 directly owns 2,925 shares in the company, valued at $233,853.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Spirit AeroSystems during the fourth quarter worth approximately $64,753,000. Millennium Management LLC boosted its stake in shares of Spirit AeroSystems by 186.0% in the fourth quarter. Millennium Management LLC now owns 711,717 shares of the aerospace company’s stock valued at $51,308,000 after buying an additional 462,846 shares during the period. Teacher Retirement System of Texas raised its position in Spirit AeroSystems by 453.8% during the first quarter. Teacher Retirement System of Texas now owns 400,755 shares of the aerospace company’s stock valued at $36,681,000 after purchasing an additional 328,394 shares in the last quarter. AQR Capital Management LLC raised its position in Spirit AeroSystems by 5.8% during the first quarter. AQR Capital Management LLC now owns 4,654,106 shares of the aerospace company’s stock valued at $425,944,000 after purchasing an additional 255,883 shares in the last quarter. Finally, Altimeter Capital Management LP acquired a new position in Spirit AeroSystems during the fourth quarter valued at approximately $13,032,000. 96.55% of the stock is currently owned by institutional investors and hedge funds.
About Spirit AeroSystems
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.
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