Russell Investments Group Ltd. Sells 30,788 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Russell Investments Group Ltd. cut its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 59.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,095 shares of the aerospace company’s stock after selling 30,788 shares during the quarter. Russell Investments Group Ltd.’s holdings in Spirit AeroSystems were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of Spirit AeroSystems during the first quarter valued at approximately $54,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Spirit AeroSystems during the second quarter valued at $60,000. Fifth Third Bancorp raised its stake in Spirit AeroSystems by 119.4% during the first quarter. Fifth Third Bancorp now owns 1,433 shares of the aerospace company’s stock valued at $70,000 after buying an additional 780 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Spirit AeroSystems during the first quarter valued at $205,000. Finally, Flow Traders U.S. LLC purchased a new position in Spirit AeroSystems during the first quarter valued at $223,000. Institutional investors own 74.80% of the company’s stock.

NYSE SPR opened at $39.29 on Tuesday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -5.38 and a beta of 2.09. The company has a quick ratio of 1.62, a current ratio of 2.48 and a debt-to-equity ratio of 6.34. The business has a 50-day moving average price of $41.05 and a 200-day moving average price of $45.31. Spirit AeroSystems Holdings, Inc. has a twelve month low of $17.26 and a twelve month high of $53.63.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, October 4th. Investors of record on Monday, September 13th will be given a $0.01 dividend. The ex-dividend date is Friday, September 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.10%. Spirit AeroSystems’s dividend payout ratio is currently -0.70%.

SPR has been the subject of a number of recent research reports. Credit Suisse Group lowered 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. Cowen boosted their price target on Spirit AeroSystems from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 22nd. Bank of America upgraded Spirit AeroSystems from an “underperform” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, August 6th. Susquehanna reduced their price objective on Spirit AeroSystems from $60.00 to $54.00 and set a “positive” rating for the company in a research report 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 report on Thursday, July 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spirit AeroSystems currently has an average rating of “Buy” and an average price target of $48.27.

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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