Water Island Capital LLC Sells 55,065 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Water Island Capital LLC trimmed its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 87.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,887 shares of the aerospace company’s stock after selling 55,065 shares during the period. Water Island Capital LLC’s holdings in Spirit AeroSystems were worth $269,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Spirit AeroSystems during the fourth quarter worth about $105,879,000. National Bank of Canada FI grew its position in shares of Spirit AeroSystems by 47.2% in the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock valued at $125,453,000 after purchasing an additional 1,181,147 shares during the last quarter. Alpine Associates Management Inc. increased its position in Spirit AeroSystems by 30.1% during the 4th quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock worth $105,395,000 after buying an additional 714,984 shares during the period. Bank of Nova Scotia raised its stake in Spirit AeroSystems by 788.3% in the 4th quarter. Bank of Nova Scotia now owns 660,000 shares of the aerospace company’s stock worth $22,493,000 after purchasing an additional 585,700 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Spirit AeroSystems by 1,295.0% in the fourth quarter. SG Americas Securities LLC now owns 325,793 shares of the aerospace company’s stock valued at $11,103,000 after buying an additional 302,439 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPR has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, February 11th. TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com started coverage on shares of Spirit AeroSystems in a research note on Saturday, March 8th. They issued a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

Spirit AeroSystems Price Performance

SPR stock opened at $32.75 on Friday. The company’s 50-day moving average is $33.76 and its 200-day moving average is $33.12. The stock has a market capitalization of $3.83 billion, a PE ratio of -2.64 and a beta of 1.41. Spirit AeroSystems Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Friday, February 28th. The aerospace company reported ($4.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($2.36). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.94 billion. On average, analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 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.