Hsbc Holdings PLC Purchases 8,600 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Hsbc Holdings PLC grew its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 99.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,209 shares of the aerospace company’s stock after purchasing an additional 8,600 shares during the period. Hsbc Holdings PLC’s holdings in Spirit AeroSystems were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Spirit AeroSystems in the 1st quarter worth approximately $25,000. Byrne Asset Management LLC bought a new stake in shares of Spirit AeroSystems in the 2nd quarter worth approximately $30,000. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the 1st quarter valued at $35,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in Spirit AeroSystems by 586.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock worth $70,000 after purchasing an additional 1,659 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPR shares. Truist Financial upped their price target on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research note on Monday, July 8th. Baird R W downgraded Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.38.

Spirit AeroSystems Stock Down 1.8 %

NYSE SPR opened at $32.52 on Tuesday. The firm has a market capitalization of $3.79 billion, a PE ratio of -3.74 and a beta of 1.85. The stock’s 50 day moving average is $34.17 and its 200 day moving average is $33.22. Spirit AeroSystems Holdings, Inc. has a twelve month low of $15.45 and a twelve month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.46) EPS. On average, research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -5.57 earnings per share for the current year.

About Spirit AeroSystems

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.