Northern Trust Corp Sells 7,939 Shares of Spirit Aerosystems Holdings, Inc. (SPR)
Northern Trust Corp lessened its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 688,135 shares of the aerospace company’s stock after selling 7,939 shares during the period. Northern Trust Corp owned about 0.58% of Spirit Aerosystems Holdings worth $39,871,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after purchasing an additional 160 shares during the last quarter. Raymond James Trust N.A. bought a new position in Spirit Aerosystems Holdings during the 2nd quarter valued at approximately $200,000. State of Alaska Department of Revenue raised its position in Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 222 shares during the last quarter. Parametrica Management Ltd bought a new position in Spirit Aerosystems Holdings during the 2nd quarter valued at approximately $217,000. Finally, PNC Financial Services Group Inc. raised its position in Spirit Aerosystems Holdings by 20.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock valued at $247,000 after purchasing an additional 710 shares during the last quarter. 98.66% of the stock is owned by institutional investors.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was down .2% on a year-over-year basis.
Spirit Aerosystems Holdings announced that its board has authorized a stock buyback plan on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is presently 14.60%.
In other news, Director Charles L. Chadwell sold 6,600 shares of Spirit Aerosystems Holdings stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total transaction of $504,834.00. Following the completion of the sale, the director now owns 23,828 shares of the company’s stock, valued at $1,822,603.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John A. Pilla sold 10,088 shares of Spirit Aerosystems Holdings stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total transaction of $752,564.80. Following the sale, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
A number of research analysts have commented on SPR shares. Jefferies Group LLC set a $68.00 price target on Spirit Aerosystems Holdings and gave the company a “buy” rating in a research report on Thursday, June 22nd. BidaskClub lowered Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, July 13th. Cowen and Company reaffirmed a “buy” rating and set a $69.00 price target on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Finally, Seaport Global Securities raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Spirit Aerosystems Holdings presently has a consensus rating of “Hold” and an average target price of $76.17.
ILLEGAL ACTIVITY NOTICE: This article was originally published by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/10/13/northern-trust-corp-sells-7939-shares-of-spirit-aerosystems-holdings-inc-spr.html.
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 also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
Want to see what other hedge funds are holding SPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Aerosystems Holdings, Inc. (NYSE:SPR).
Receive News & Ratings for Spirit Aerosystems Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Aerosystems Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.