Appian Way Asset Management LP Sells 721,906 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Appian Way Asset Management LP cut its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 59.4% in the third quarter, Holdings Channel.com reports. The fund owned 494,055 shares of the aerospace company’s stock after selling 721,906 shares during the quarter. Spirit AeroSystems makes up about 3.6% of Appian Way Asset Management LP’s investment portfolio, making the stock its 9th largest position. Appian Way Asset Management LP’s holdings in Spirit AeroSystems were worth $16,062,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Byrne Asset Management LLC bought a new position in shares of Spirit AeroSystems in the 2nd quarter valued at approximately $30,000. Waldron Private Wealth LLC acquired a new position in Spirit AeroSystems during the third quarter valued at approximately $32,000. Quest Partners LLC acquired a new stake in shares of Spirit AeroSystems in the third quarter worth $49,000. Quarry LP lifted its stake in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after buying an additional 751 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Spirit AeroSystems by 20.1% during the 3rd quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock worth $150,000 after buying an additional 771 shares during the period. 93.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SPR. Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. StockNews.com began coverage on Spirit AeroSystems in a research report on Sunday, November 24th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Trading Down 0.6 %

Shares of NYSE SPR opened at $32.32 on Friday. Spirit AeroSystems Holdings, Inc. has a one year low of $25.16 and a one year high of $37.08. The business has a fifty day simple moving average of $32.09 and a 200 day simple moving average of $32.77. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -2.60 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -12.76 earnings per share for the current fiscal year.

About Spirit AeroSystems

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.