Bank of America Corp DE Decreases Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Bank of America Corp DE reduced its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 29.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 877,483 shares of the aerospace company’s stock after selling 370,002 shares during the period. Bank of America Corp DE owned approximately 0.75% of Spirit AeroSystems worth $29,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Spirit AeroSystems by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company’s stock worth $368,142,000 after purchasing an additional 203,549 shares during the period. Pentwater Capital Management LP increased its position in shares of Spirit AeroSystems by 1.3% during the fourth quarter. Pentwater Capital Management LP now owns 9,220,000 shares of the aerospace company’s stock valued at $314,218,000 after acquiring an additional 120,000 shares during the last quarter. National Bank of Canada FI increased its position in shares of Spirit AeroSystems by 47.2% during the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock valued at $125,453,000 after acquiring an additional 1,181,147 shares during the last quarter. Norges Bank acquired a new stake in shares of Spirit AeroSystems during the fourth quarter valued at about $105,879,000. Finally, Alpine Associates Management Inc. increased its position in shares of Spirit AeroSystems by 30.1% during the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock valued at $105,395,000 after acquiring an additional 714,984 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $37.82 on Friday. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $37.86. The stock has a market capitalization of $4.44 billion, a P/E ratio of -3.05 and a beta of 1.63. The company has a 50 day moving average price of $34.39 and a 200 day moving average price of $33.67.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) EPS for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned ($3.93) EPS. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, research analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPR has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research report on Saturday, March 8th. They set a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Fourteen research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.56.

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.