Readystate Asset Management LP Decreases Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Readystate Asset Management LP decreased its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,409 shares of the aerospace company’s stock after selling 34,997 shares during the period. Readystate Asset Management LP’s holdings in Spirit AeroSystems were worth $1,094,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPR. Price T Rowe Associates Inc. MD lifted its stake in Spirit AeroSystems by 6,821.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,591,729 shares of the aerospace company’s stock worth $134,538,000 after purchasing an additional 4,525,393 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Spirit AeroSystems during the 1st quarter valued at $83,597,000. Wolf Hill Capital Management LP purchased a new stake in shares of Spirit AeroSystems during the 1st quarter valued at $78,680,000. Morgan Stanley raised its position in shares of Spirit AeroSystems by 108.4% during the 3rd quarter. Morgan Stanley now owns 4,195,996 shares of the aerospace company’s stock valued at $67,723,000 after buying an additional 2,182,434 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Spirit AeroSystems during the 4th quarter valued at $62,432,000. 93.59% of the stock is owned by institutional investors.

Spirit AeroSystems Stock Down 0.7 %

Shares of SPR traded down $0.22 during trading hours on Thursday, reaching $33.15. 2,245,093 shares of the company traded hands, compared to its average volume of 4,049,604. The company’s fifty day moving average price is $32.73 and its two-hundred day moving average price is $28.15. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 13.63 and a beta of 1.77. Spirit AeroSystems Holdings, Inc. has a 12 month low of $14.65 and a 12 month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.84). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm earned ($1.46) earnings per share. Spirit AeroSystems’s quarterly revenue was up 37.3% compared to the same quarter last year. On average, analysts expect that Spirit AeroSystems Holdings, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SPR. The Goldman Sachs Group raised their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial raised their price objective on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Citigroup started coverage on shares of Spirit AeroSystems in a research report on Wednesday, January 17th. They set a “buy” rating and a $39.00 price objective on the stock. Susquehanna lifted their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Finally, Morgan Stanley decreased their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.39.

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.