Mystic Asset Management Inc. Cuts Stock Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Mystic Asset Management Inc. trimmed its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,090 shares of the aerospace company’s stock after selling 1,637 shares during the quarter. Mystic Asset Management Inc.’s holdings in Spirit AeroSystems were worth $1,469,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SPR. Cerity Partners LLC boosted its stake in shares of Spirit AeroSystems by 59.2% in the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock valued at $3,872,000 after purchasing an additional 44,282 shares during the period. JPMorgan Chase & Co. boosted its position in Spirit AeroSystems by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 462,837 shares of the aerospace company’s stock valued at $15,047,000 after buying an additional 112,286 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Spirit AeroSystems in the third quarter worth $77,296,000. Proficio Capital Partners LLC purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth $520,000. Finally, SBI Securities Co. Ltd. purchased a new position in Spirit AeroSystems in the fourth quarter valued at $32,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SPR shares. StockNews.com started coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They issued a “hold” rating on the stock. TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Spirit AeroSystems Stock Performance

Shares of Spirit AeroSystems stock opened at $33.64 on Tuesday. The company has a market capitalization of $3.93 billion, a P/E ratio of -2.71 and a beta of 1.77. Spirit AeroSystems Holdings, Inc. has a 1 year low of $28.92 and a 1 year high of $37.08. The company’s fifty day moving average is $34.05 and its two-hundred day moving average is $33.13.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($2.36). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.94 billion. As a group, equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Spirit AeroSystems Company 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.