Swiss National Bank Grows Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

27 May 2020, 11:36 by Kim Johansen

Swiss National Bank lifted its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,831 shares of the aerospace company’s stock after buying an additional 75,600 shares during the period. Swiss National Bank owned approximately 0.38% of Spirit AeroSystems worth $9,616,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Spirit AeroSystems by 33.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,542,281 shares of the aerospace company’s stock valued at $403,922,000 after buying an additional 1,384,829 shares during the last quarter. Sculptor Capital LP boosted its position in shares of Spirit AeroSystems by 64.2% during the fourth quarter. Sculptor Capital LP now owns 4,530,301 shares of the aerospace company’s stock valued at $330,168,000 after buying an additional 1,770,725 shares during the last quarter. State Street Corp boosted its position in shares of Spirit AeroSystems by 0.9% during the fourth quarter. State Street Corp now owns 3,745,147 shares of the aerospace company’s stock valued at $273,389,000 after buying an additional 34,888 shares during the last quarter. Boston Partners boosted its position in shares of Spirit AeroSystems by 15.2% during the fourth quarter. Boston Partners now owns 2,434,574 shares of the aerospace company’s stock valued at $177,448,000 after buying an additional 321,371 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Spirit AeroSystems by 108.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,287,799 shares of the aerospace company’s stock valued at $93,855,000 after buying an additional 668,599 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

SPR stock opened at $21.99 on Wednesday. Spirit AeroSystems Holdings, Inc. has a twelve month low of $13.69 and a twelve month high of $92.81. The company has a quick ratio of 1.99, a current ratio of 2.81 and a debt-to-equity ratio of 2.07. The stock has a market cap of $2.21 billion, a P/E ratio of 11.28 and a beta of 1.50. The business’s 50-day moving average price is $20.15 and its 200-day moving average price is $54.12.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, May 6th. The aerospace company reported ($0.79) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.42) by $0.63. Spirit AeroSystems had a return on equity of 20.46% and a net margin of 2.92%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $1.68 EPS. The business’s quarterly revenue was down 44.1% on a year-over-year basis. On average, equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -2.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be issued a $0.01 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. Spirit AeroSystems’s dividend payout ratio is presently 0.72%.

SPR has been the subject of several research reports. Goldman Sachs Group raised shares of Spirit AeroSystems from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Wednesday, March 11th. TheStreet lowered shares of Spirit AeroSystems from a “c” rating to a “d” rating in a research report on Wednesday, May 6th. Canaccord Genuity decreased their price target on shares of Spirit AeroSystems from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Zacks Investment Research cut shares of Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $22.00 price target on the stock. in a research note on Tuesday, March 24th. Finally, Bank of America lowered Spirit AeroSystems from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $77.00 to $25.00 in a research note on Monday, April 13th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Spirit AeroSystems currently has a consensus rating of “Hold” and an average target price of $50.47.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.