New York State Common Retirement Fund Increases Stock Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

New York State Common Retirement Fund increased its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPRGet Rating) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,622 shares of the aerospace company’s stock after buying an additional 2,486 shares during the quarter. New York State Common Retirement Fund owned 0.37% of Spirit AeroSystems worth $19,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in Spirit AeroSystems by 2,238.5% during the 1st quarter. Russell Investments Group Ltd. now owns 418,381 shares of the aerospace company’s stock worth $20,450,000 after buying an additional 400,490 shares during the last quarter. California Public Employees Retirement System lifted its position in Spirit AeroSystems by 1.9% during the 1st quarter. California Public Employees Retirement System now owns 198,819 shares of the aerospace company’s stock worth $9,720,000 after acquiring an additional 3,645 shares during the period. ClariVest Asset Management LLC acquired a new stake in Spirit AeroSystems during the 1st quarter worth about $3,041,000. Victory Capital Management Inc. lifted its position in Spirit AeroSystems by 26.0% during the 1st quarter. Victory Capital Management Inc. now owns 427,210 shares of the aerospace company’s stock worth $20,789,000 after acquiring an additional 88,286 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Spirit AeroSystems by 7.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 220,113 shares of the aerospace company’s stock worth $10,761,000 after acquiring an additional 15,264 shares during the period. 79.33% of the stock is currently owned by hedge funds and other institutional investors.

Spirit AeroSystems Stock Performance

NYSE SPR opened at $30.42 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -7.51 and a beta of 1.69. Spirit AeroSystems Holdings, Inc. has a twelve month low of $26.18 and a twelve month high of $53.31. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 9.77. The stock has a 50-day moving average of $31.33 and a 200 day moving average of $39.32.

Spirit AeroSystems (NYSE:SPRGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The aerospace company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.00). The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. Spirit AeroSystems had a negative return on equity of 51.61% and a negative net margin of 9.98%. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. Sell-side analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Spirit AeroSystems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a $0.01 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. Spirit AeroSystems’s payout ratio is -0.99%.

Analysts Set New Price Targets

A number of brokerages have commented on SPR. Truist Financial lowered their price target on Spirit AeroSystems from $70.00 to $60.00 in a research report on Tuesday, July 19th. Morgan Stanley lowered their price target on Spirit AeroSystems from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday. Robert W. Baird decreased their price objective on Spirit AeroSystems from $53.00 to $43.00 in a report on Thursday. Susquehanna decreased their price objective on Spirit AeroSystems from $50.00 to $41.00 in a report on Thursday. Finally, TheStreet cut Spirit AeroSystems from a “c-” rating to a “d+” rating in a report on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Spirit AeroSystems has an average rating of “Moderate Buy” and an average price target of $54.27.

Spirit AeroSystems Profile

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Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.

See Also

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

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