Wesbanco Bank Inc. Has $8.26 Million Stake in Spirit AeroSystems Holdings, Inc. (SPR)
Wesbanco Bank Inc. lifted its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 28.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,078 shares of the aerospace company’s stock after purchasing an additional 19,699 shares during the quarter. Wesbanco Bank Inc. owned about 0.08% of Spirit AeroSystems worth $8,257,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Spirit AeroSystems during the third quarter worth $154,000. Atria Investments LLC acquired a new position in Spirit AeroSystems during the second quarter worth $201,000. Raymond James Financial Services Advisors Inc. acquired a new position in Spirit AeroSystems during the second quarter worth $222,000. Hartford Investment Management Co. acquired a new position in Spirit AeroSystems during the second quarter worth $299,000. Finally, Oakbrook Investments LLC acquired a new position in Spirit AeroSystems during the second quarter worth $301,000. Institutional investors and hedge funds own 99.19% of the company’s stock.
Several analysts have weighed in on SPR shares. Bank of America raised Spirit AeroSystems from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $105.00 in a report on Thursday, November 8th. Cowen reissued a “buy” rating and issued a $100.00 target price on shares of Spirit AeroSystems in a report on Wednesday, August 1st. Wells Fargo & Co set a $105.00 target price on Spirit AeroSystems and gave the company a “buy” rating in a report on Thursday, November 1st. Standpoint Research raised Spirit AeroSystems from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Finally, UBS Group started coverage on Spirit AeroSystems in a report on Wednesday, August 15th. They issued a “buy” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $106.27.
Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, October 31st. The aerospace company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. Spirit AeroSystems had a return on equity of 46.86% and a net margin of 7.92%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, equities analysts forecast that Spirit AeroSystems Holdings, Inc. will post 6.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Monday, December 17th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. Spirit AeroSystems’s dividend payout ratio (DPR) is 8.97%.
In other news, SVP John A. Pilla sold 9,642 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $84.01, for a total value of $810,024.42. Following the transaction, the senior vice president now directly owns 21,866 shares in the company, valued at approximately $1,836,962.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total value of $42,685.00. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
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Spirit AeroSystems Company Profile
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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