KLP Kapitalforvaltning AS Acquires 5,200 Shares of Spirit Aerosystems Holdings, Inc. $SPR

KLP Kapitalforvaltning AS boosted its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 21.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,800 shares of the aerospace company’s stock after purchasing an additional 5,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Spirit Aerosystems were worth $1,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Spirit Aerosystems by 48.1% in the second quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company’s stock valued at $39,000 after buying an additional 334 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Spirit Aerosystems by 48.0% in the first quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company’s stock valued at $209,000 after buying an additional 1,967 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Spirit Aerosystems in the first quarter valued at about $211,000. Longboard Asset Management LP acquired a new stake in shares of Spirit Aerosystems in the second quarter valued at about $234,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Spirit Aerosystems in the first quarter valued at about $238,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Spirit Aerosystems Stock Down 0.7%

Shares of SPR stock opened at $38.61 on Wednesday. The business has a 50-day moving average price of $39.83 and a two-hundred day moving average price of $37.90. Spirit Aerosystems Holdings, Inc. has a 12-month low of $27.00 and a 12-month high of $42.33. The firm has a market cap of $4.53 billion, a P/E ratio of -1.93 and a beta of 1.70.

Spirit Aerosystems (NYSE:SPR) last released its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($2.82). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business posted ($2.73) earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPR has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Spirit Aerosystems in a research report on Wednesday, October 8th. Wall Street Zen upgraded Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna upped their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Zacks Research raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.63.

Spirit Aerosystems Company Profile

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.