State Street Corp Trims Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

State Street Corp lowered its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,208,094 shares of the aerospace company’s stock after selling 104,960 shares during the period. State Street Corp’s holdings in Spirit AeroSystems were worth $169,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC purchased a new position in shares of Spirit AeroSystems during the second quarter valued at about $30,000. Waldron Private Wealth LLC purchased a new position in shares of Spirit AeroSystems during the third quarter valued at about $32,000. Quest Partners LLC purchased a new position in shares of Spirit AeroSystems during the third quarter valued at about $49,000. Quarry LP increased its position in shares of Spirit AeroSystems by 49.0% during the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after buying an additional 751 shares during the period. Finally, KBC Group NV increased its position in shares of Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after buying an additional 771 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR opened at $32.97 on Friday. The firm’s 50 day moving average price is $32.02 and its 200-day moving average price is $32.90. The company has a market cap of $3.85 billion, a PE ratio of -2.65 and a beta of 1.82. Spirit AeroSystems Holdings, Inc. has a 52-week low of $25.16 and a 52-week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.83 billion. On average, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -12.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. StockNews.com assumed coverage on shares of Spirit AeroSystems in a research note on Tuesday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and a consensus price target of $35.67.

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.