Artemis Investment Management LLP Sells 71,779 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)
Artemis Investment Management LLP cut its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 759,668 shares of the aerospace company’s stock after selling 71,779 shares during the quarter. Artemis Investment Management LLP owned approximately 0.73% of Spirit AeroSystems worth $54,435,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC grew its position in shares of Spirit AeroSystems by 2.0% during the 2nd quarter. MML Investors Services LLC now owns 10,258 shares of the aerospace company’s stock valued at $835,000 after acquiring an additional 197 shares during the period. Frontier Wealth Management LLC grew its holdings in Spirit AeroSystems by 4.1% during the second quarter. Frontier Wealth Management LLC now owns 5,035 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 199 shares during the period. MAI Capital Management grew its holdings in Spirit AeroSystems by 3.0% during the second quarter. MAI Capital Management now owns 7,210 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 210 shares during the period. Comerica Bank grew its holdings in Spirit AeroSystems by 5.0% during the third quarter. Comerica Bank now owns 4,416 shares of the aerospace company’s stock valued at $351,000 after purchasing an additional 210 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in Spirit AeroSystems by 1.9% in the second quarter. Kovitz Investment Group Partners LLC now owns 12,334 shares of the aerospace company’s stock worth $1,003,000 after buying an additional 225 shares during the last quarter. Institutional investors own 95.98% of the company’s stock.
Several analysts have issued reports on SPR shares. Robert W. Baird lowered Spirit AeroSystems from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $89.00 to $80.00 in a research note on Tuesday, October 22nd. UBS Group lowered Spirit AeroSystems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $88.00 in a report on Monday, October 21st. Cowen restated a “hold” rating on shares of Spirit AeroSystems in a research note on Thursday, October 31st. Barclays downgraded shares of Spirit AeroSystems from an “overweight” rating to an “equal weight” rating and set a $80.00 price objective on the stock. in a report on Wednesday, January 8th. Finally, ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Spirit AeroSystems has an average rating of “Hold” and a consensus price target of $90.98.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Thursday, October 31st. The aerospace company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.29). Spirit AeroSystems had a return on equity of 49.21% and a net margin of 8.27%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $1.70 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, December 13th. Spirit AeroSystems’s dividend payout ratio is presently 7.67%.
In other news, Director Robert D. Johnson sold 500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.99, for a total value of $43,495.00. Following the sale, the director now directly owns 1,432 shares of the company’s stock, valued at $124,569.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.
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.
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