Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Stake Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,516 shares of the aerospace company’s stock after selling 9,178 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Spirit AeroSystems were worth $11,817,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPR. Seven Eight Capital LP acquired a new position in Spirit AeroSystems in the fourth quarter worth approximately $5,694,000. Vanguard Group Inc. lifted its stake in shares of Spirit AeroSystems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock valued at $395,128,000 after purchasing an additional 109,632 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in Spirit AeroSystems in the fourth quarter worth $791,000. Allspring Global Investments Holdings LLC raised its holdings in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after buying an additional 724 shares in the last quarter. Finally, Jones Road Capital Management L.P. lifted its position in shares of Spirit AeroSystems by 63.6% in the fourth quarter. Jones Road Capital Management L.P. now owns 257,275 shares of the aerospace company’s stock worth $8,176,000 after buying an additional 100,000 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

Spirit AeroSystems Stock Performance

Shares of SPR opened at $32.83 on Thursday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.85. The stock has a fifty day moving average price of $34.30 and a two-hundred day moving average price of $33.19. Spirit AeroSystems Holdings, Inc. has a 52-week low of $14.96 and a 52-week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned ($1.46) earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Spirit AeroSystems Holdings, Inc. will post -5.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SPR. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Stifel Nicolaus increased their target price on Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Baird R W cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spirit AeroSystems in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.38.

About Spirit AeroSystems

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.