Balyasny Asset Management L.P. Buys 1,328,419 Shares of Spirit Aerosystems Holdings, Inc. $SPR

Balyasny Asset Management L.P. lifted its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 25.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,502,847 shares of the aerospace company’s stock after buying an additional 1,328,419 shares during the quarter. Spirit Aerosystems comprises approximately 0.4% of Balyasny Asset Management L.P.’s holdings, making the stock its 13th biggest position. Balyasny Asset Management L.P. owned approximately 5.54% of Spirit Aerosystems worth $248,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Spirit Aerosystems by 48.1% during the second quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 334 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Spirit Aerosystems by 33,966.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 1,019 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Spirit Aerosystems in the 2nd quarter valued at about $207,000. Russell Investments Group Ltd. lifted its stake in Spirit Aerosystems by 48.0% in the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company’s stock valued at $209,000 after purchasing an additional 1,967 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Spirit Aerosystems during the first quarter worth about $211,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPR has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Spirit Aerosystems in a research report on Wednesday, October 8th. Zacks Research raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.63.

Spirit Aerosystems Trading Up 0.1%

Spirit Aerosystems stock opened at $39.44 on Friday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -1.78 and a beta of 1.11. Spirit Aerosystems Holdings, Inc. has a 12 month low of $27.00 and a 12 month high of $42.33. The stock’s 50 day moving average is $37.60 and its 200-day moving average is $38.68.

Spirit Aerosystems (NYSE:SPR) last released its quarterly earnings results on Friday, October 31st. The aerospace company reported ($4.87) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($4.50). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.92 billion. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.03) earnings per share. As a group, equities research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal 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.