Spirit AeroSystems (SPR) Sees Strong Trading Volume
Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw unusually-high trading volume on Thursday . Approximately 6,103,877 shares were traded during trading, an increase of 493% from the previous session’s volume of 1,028,528 shares.The stock last traded at $84.25 and had previously closed at $83.51.
SPR has been the subject of several research reports. Buckingham Research increased their price objective on Spirit AeroSystems from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Canaccord Genuity reissued a “buy” rating and set a $86.00 price objective on shares of Spirit AeroSystems in a report on Tuesday, October 31st. Royal Bank Of Canada set a $77.00 price objective on Spirit AeroSystems and gave the company a “sell” rating in a report on Sunday, November 12th. BidaskClub raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Cowen reissued an “outperform” rating and set a $88.00 price objective (up from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Spirit AeroSystems presently has a consensus rating of “Hold” and a consensus price target of $79.95.
The firm has a market cap of $9,741.32, a P/E ratio of 17.23, a PEG ratio of 1.49 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 5.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Monday, December 18th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, December 15th. Spirit AeroSystems’s dividend payout ratio is 14.08%.
In related news, SVP John A. Pilla sold 10,088 shares of Spirit AeroSystems stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the completion of the sale, the senior vice president now owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $76.49, for a total value of $504,834.00. Following the sale, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. Insiders have sold 21,688 shares of company stock valued at $1,672,599 in the last three months. 0.28% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. purchased a new stake in Spirit AeroSystems during the second quarter valued at about $200,000. State of Alaska Department of Revenue raised its position in Spirit AeroSystems by 6.7% during the second 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 in the last quarter. Nine Chapters Capital Management LLC purchased a new stake in Spirit AeroSystems during the third quarter valued at about $218,000. Quantitative Systematic Strategies LLC purchased a new stake in Spirit AeroSystems during the third quarter valued at about $227,000. Finally, Hillsdale Investment Management Inc. raised its position in Spirit AeroSystems by 23.2% during the second quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 96.21% of the company’s stock.
About Spirit AeroSystems
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.
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