OLD National Bancorp IN acquired a new position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,663 shares of the aerospace company’s stock, valued at approximately $285,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its position in Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 160 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Spirit Aerosystems Holdings during the 3rd quarter worth approximately $227,000. Raymond James Trust N.A. purchased a new position in Spirit Aerosystems Holdings during the 2nd quarter worth approximately $200,000. State of Alaska Department of Revenue grew its position in Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after purchasing an additional 222 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Spirit Aerosystems Holdings during the 2nd quarter worth approximately $217,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.
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In related news, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total value of $752,564.80. Following the completion of the transaction, the senior vice president now owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total transaction of $504,834.00. Following the completion of the transaction, the director now directly owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 30.53%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, December 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is currently 14.08%.
Spirit Aerosystems Holdings announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several research firms have weighed in on SPR. Sanford C. Bernstein reiterated an “in-line” rating and set a $98.00 price objective (up from $87.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday. Zacks Investment Research cut shares of Spirit Aerosystems Holdings from a “buy” rating to a “hold” rating in a research report on Friday. Canaccord Genuity restated a “buy” rating and set a $86.00 price target on shares of Spirit Aerosystems Holdings in a report on Tuesday. Wells Fargo & Company restated a “market perform” rating and set a $85.00 price target (up from $78.00) on shares of Spirit Aerosystems Holdings in a report on Thursday. Finally, Credit Suisse Group boosted their price target on shares of Spirit Aerosystems Holdings from $88.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $78.55.
Spirit Aerosystems Holdings Company Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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