Spirit Aerosystems Holdings, Inc. $SPR Stock Position Lowered by Valueworks LLC

Valueworks LLC lessened its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 37.0% during the first quarter, Holdings Channel reports. The institutional investor owned 145,980 shares of the aerospace company’s stock after selling 85,710 shares during the quarter. Spirit Aerosystems makes up approximately 1.9% of Valueworks LLC’s investment portfolio, making the stock its 23rd largest position. Valueworks LLC’s holdings in Spirit Aerosystems were worth $5,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaQuest LLC bought a new stake in shares of Spirit Aerosystems in the 1st quarter worth $266,000. Maven Securities LTD bought a new stake in shares of Spirit Aerosystems in the 1st quarter worth $689,000. Quantbot Technologies LP bought a new stake in shares of Spirit Aerosystems in the 1st quarter worth $1,408,000. Wellington Management Group LLP raised its stake in shares of Spirit Aerosystems by 11.1% in the 1st quarter. Wellington Management Group LLP now owns 510,710 shares of the aerospace company’s stock worth $17,599,000 after buying an additional 51,047 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Spirit Aerosystems during the first quarter worth $5,322,000. Institutional investors own 93.59% of the company’s stock.

Spirit Aerosystems Trading Up 2.6%

Shares of SPR stock opened at $40.88 on Friday. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year high of $42.33. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -2.04 and a beta of 1.70. The stock’s fifty day simple moving average is $39.34 and its 200-day simple moving average is $36.50.

Spirit Aerosystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($2.82). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned ($2.73) EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna boosted their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.63.

Spirit Aerosystems Company Profile

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.