Commonwealth Equity Services LLC Cuts Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Commonwealth Equity Services LLC cut its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 29.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,802 shares of the aerospace company’s stock after selling 19,499 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Spirit AeroSystems were worth $1,652,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SPR. AQR Capital Management LLC bought a new stake in Spirit AeroSystems in the third quarter worth $6,748,000. Advisors Asset Management Inc. raised its holdings in Spirit AeroSystems by 4.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 23,604 shares of the aerospace company’s stock valued at $381,000 after buying an additional 960 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Spirit AeroSystems by 779.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 878,108 shares of the aerospace company’s stock valued at $14,173,000 after buying an additional 778,267 shares during the period. Sei Investments Co. grew its holdings in Spirit AeroSystems by 12.7% in the 3rd quarter. Sei Investments Co. now owns 1,410,704 shares of the aerospace company’s stock worth $22,769,000 after acquiring an additional 159,034 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Spirit AeroSystems by 9,458.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 800,152 shares of the aerospace company’s stock valued at $12,914,000 after acquiring an additional 791,781 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Spirit AeroSystems Price Performance

Shares of NYSE SPR opened at $34.02 on Friday. The firm has a 50-day simple moving average of $31.47 and a two-hundred day simple moving average of $31.28. Spirit AeroSystems Holdings, Inc. has a 1 year low of $14.65 and a 1 year high of $36.34. The company has a market cap of $3.97 billion, a P/E ratio of -3.91 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted ($1.69) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -2.94 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on SPR. Citigroup reissued a “neutral” rating and issued a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday. The Goldman Sachs Group upped their target price on Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays reiterated an “equal weight” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Finally, UBS Group lifted their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.18.

Spirit AeroSystems Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.