Park Avenue Securities LLC Cuts Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Park Avenue Securities LLC decreased its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPRFree Report) by 34.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,726 shares of the aerospace company’s stock after selling 5,156 shares during the period. Park Avenue Securities LLC’s holdings in Spirit AeroSystems were worth $351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. purchased a new stake in Spirit AeroSystems in the 4th quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in Spirit AeroSystems during the fourth quarter worth $124,000. Blue Trust Inc. raised its position in Spirit AeroSystems by 33.9% in the fourth quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock worth $196,000 after acquiring an additional 1,562 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Spirit AeroSystems in the fourth quarter valued at $236,000. Finally, CWM LLC boosted its position in shares of Spirit AeroSystems by 7.7% during the 4th quarter. CWM LLC now owns 7,516 shares of the aerospace company’s stock worth $239,000 after purchasing an additional 537 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPR. Royal Bank of Canada increased their price target on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. The Goldman Sachs Group lifted their price target on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Stifel Nicolaus upped their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, March 20th. UBS Group reduced their price objective on Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Susquehanna upped their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Spirit AeroSystems currently has a consensus rating of “Hold” and a consensus target price of $32.83.

View Our Latest Stock Report on Spirit AeroSystems

Spirit AeroSystems Stock Performance

Spirit AeroSystems stock opened at $32.87 on Monday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.80. Spirit AeroSystems Holdings, Inc. has a 1 year low of $14.65 and a 1 year high of $36.34. The firm has a 50 day moving average price of $31.29 and a 200 day moving average price of $31.14.

Spirit AeroSystems (NYSE:SPRGet Free Report) last issued its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.69) EPS. Sell-side analysts predict that Spirit AeroSystems Holdings, Inc. will post -2.94 EPS for the current year.

About Spirit AeroSystems

(Free Report)

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.

See Also

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

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