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.
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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