Legal & General Group Plc Decreases Position in Spirit AeroSystems Holdings, Inc. (SPR)
Legal & General Group Plc reduced its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 164,953 shares of the aerospace company’s stock after selling 12,552 shares during the quarter. Legal & General Group Plc’s holdings in Spirit AeroSystems were worth $14,171,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of Spirit AeroSystems during the first quarter worth approximately $101,000. Atria Investments LLC acquired a new stake in shares of Spirit AeroSystems during the second quarter worth approximately $201,000. Lucia Wealth Services LLC acquired a new stake in shares of Spirit AeroSystems during the first quarter worth approximately $211,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Spirit AeroSystems in the second quarter valued at approximately $222,000. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Spirit AeroSystems in the first quarter valued at approximately $232,000.
Shares of Spirit AeroSystems stock opened at $86.66 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 1.95. Spirit AeroSystems Holdings, Inc. has a 1-year low of $75.17 and a 1-year high of $105.20. The firm has a market capitalization of $9.28 billion, a PE ratio of 16.42, a PEG ratio of 1.28 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Monday, September 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, September 14th. Spirit AeroSystems’s payout ratio is 8.97%.
In other news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $85.37, for a total value of $42,685.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles L. Chadwell sold 11,500 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $87.33, for a total transaction of $1,004,295.00. Following the completion of the sale, the director now owns 13,821 shares of the company’s stock, valued at $1,206,987.93. The disclosure for this sale can be found here. Insiders sold 18,920 shares of company stock valued at $1,644,796 over the last 90 days. 0.87% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the stock. UBS Group assumed coverage on shares of Spirit AeroSystems in a research note on Wednesday, August 15th. They issued a “buy” rating and a $110.00 target price for the company. Zacks Investment Research upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Bank of America reduced their target price on shares of Spirit AeroSystems from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 2nd. Credit Suisse Group reduced their target price on shares of Spirit AeroSystems from $112.00 to $102.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. Finally, ValuEngine cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $101.21.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.
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