Principal Financial Group Inc. Sells 234,887 Shares of Spirit Aerosystems Holdings Inc. (SPR)
Principal Financial Group Inc. reduced its stake in Spirit Aerosystems Holdings Inc. (NYSE:SPR) by 43.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 310,547 shares of the company’s stock after selling 234,887 shares during the period. Principal Financial Group Inc. owned 0.28% of Spirit Aerosystems Holdings worth $13,354,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in Spirit Aerosystems Holdings during the second quarter valued at $97,161,000. Bank of Montreal Can acquired a new stake in Spirit Aerosystems Holdings during the second quarter valued at $72,544,000. LSV Asset Management boosted its stake in Spirit Aerosystems Holdings by 390.2% in the second quarter. LSV Asset Management now owns 1,394,590 shares of the company’s stock valued at $59,967,000 after buying an additional 1,110,090 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Spirit Aerosystems Holdings during the second quarter valued at $36,765,000. Finally, Prudential Financial Inc. boosted its stake in Spirit Aerosystems Holdings by 29.6% in the second quarter. Prudential Financial Inc. now owns 1,741,061 shares of the company’s stock valued at $74,866,000 after buying an additional 397,760 shares during the period.
Shares of Spirit Aerosystems Holdings Inc. (NYSE:SPR) opened at 46.37 on Monday. The company has a 50 day moving average price of $45.08 and a 200 day moving average price of $45.25. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 9.36 and a beta of 1.22. Spirit Aerosystems Holdings Inc. has a one year low of $40.03 and a one year high of $56.20.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The firm earned $1.80 billion during the quarter, compared to analyst estimates of $1.69 billion. Spirit Aerosystems Holdings had a return on equity of 27.50% and a net margin of 9.95%. Spirit Aerosystems Holdings’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities analysts predict that Spirit Aerosystems Holdings Inc. will post $4.44 EPS for the current year.
Several equities research analysts have weighed in on SPR shares. Jefferies Group reiterated a “buy” rating on shares of Spirit Aerosystems Holdings in a report on Monday, July 11th. Morgan Stanley reiterated a “buy” rating and issued a $57.00 price objective on shares of Spirit Aerosystems Holdings in a report on Monday, August 15th. Canaccord Genuity reiterated a “buy” rating on shares of Spirit Aerosystems Holdings in a report on Wednesday, June 22nd. JPMorgan Chase & Co. dropped their price objective on Spirit Aerosystems Holdings from $62.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Finally, Robert W. Baird started coverage on Spirit Aerosystems Holdings in a report on Wednesday, October 5th. They issued an “outperform” rating and a $54.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.94.
In related news, SVP John A. Pilla sold 8,688 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $43.56, for a total value of $378,449.28. Following the completion of the sale, the senior vice president now owns 112,721 shares in the company, valued at $4,910,126.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.
Spirit Aerosystems Holdings Company Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM) aircraft parts designer and manufacturer of commercial aero-structures. The Company is a supplier of aero-structures to The Boeing Company (Boeing) and Airbus SAS (Airbus). The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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