Clearbridge Investments LLC Sells 182,416 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Clearbridge Investments LLC reduced its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,259,475 shares of the aerospace company’s stock after selling 182,416 shares during the quarter. Clearbridge Investments LLC owned 1.19% of Spirit AeroSystems worth $59,435,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its stake in shares of Spirit AeroSystems by 84.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 527 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 241 shares during the period. Verity Asset Management Inc. grew its stake in shares of Spirit AeroSystems by 1.9% during the 2nd quarter. Verity Asset Management Inc. now owns 20,989 shares of the aerospace company’s stock valued at $990,000 after purchasing an additional 397 shares during the period. Ingalls & Snyder LLC grew its stake in shares of Spirit AeroSystems by 2.1% during the 2nd quarter. Ingalls & Snyder LLC now owns 24,550 shares of the aerospace company’s stock valued at $1,159,000 after purchasing an additional 500 shares during the period. Eaton Vance Management grew its stake in shares of Spirit AeroSystems by 4.2% during the 1st quarter. Eaton Vance Management now owns 13,071 shares of the aerospace company’s stock valued at $636,000 after purchasing an additional 521 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Spirit AeroSystems by 40.3% during the 2nd quarter. Fifth Third Bancorp now owns 2,011 shares of the aerospace company’s stock valued at $95,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 74.80% of the company’s stock.

SPR opened at $46.55 on Thursday. Spirit AeroSystems Holdings, Inc. has a 12-month low of $17.60 and a 12-month high of $53.63. The company has a current ratio of 2.48, a quick ratio of 1.62 and a debt-to-equity ratio of 6.34. The business’s fifty day simple moving average is $41.78 and its 200-day simple moving average is $44.87. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -6.38 and a beta of 2.09.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Tuesday, August 3rd. The aerospace company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.39. Spirit AeroSystems had a negative return on equity of 52.84% and a negative net margin of 21.15%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $956.45 million. During the same period last year, the business posted ($2.28) earnings per share. The firm’s revenue was up 55.3% compared to the same quarter last year. On average, equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post -2.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 4th. Shareholders of record on Monday, September 13th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Friday, September 10th. Spirit AeroSystems’s dividend payout ratio (DPR) is presently -0.70%.

A number of brokerages recently issued reports on SPR. Sanford C. Bernstein upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $53.00 to $66.00 in a research note on Wednesday, September 29th. Bank of America upgraded Spirit AeroSystems from an “underperform” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, August 6th. Susquehanna cut their price objective on Spirit AeroSystems from $60.00 to $54.00 and set a “positive” rating for the company in a research note on Thursday, August 5th. Credit Suisse Group cut their price objective on Spirit AeroSystems from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Finally, Zacks Investment Research upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research note on Thursday, July 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Spirit AeroSystems presently has a consensus rating of “Buy” and an average target price of $49.38.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Fuselage Systems, Propulsion Systems, Wing Systems, and All Other. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems.

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Institutional Ownership by Quarter for Spirit AeroSystems (NYSE:SPR)

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