Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Stake Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 65.2% during the third quarter, Holdings Channel reports. The fund owned 7,652 shares of the aerospace company’s stock after selling 14,349 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Spirit AeroSystems were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SPR. Pentwater Capital Management LP increased its holdings in shares of Spirit AeroSystems by 18,132.0% in the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after buying an additional 9,066,000 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Spirit AeroSystems during the third quarter worth $77,296,000. Appian Way Asset Management LP acquired a new stake in shares of Spirit AeroSystems during the 2nd quarter valued at about $39,969,000. Bank of Montreal Can increased its stake in shares of Spirit AeroSystems by 1,744.2% during the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock worth $26,557,000 after purchasing an additional 758,599 shares during the last quarter. Finally, ING Groep NV acquired a new stake in shares of Spirit AeroSystems in the third quarter worth about $16,817,000. 93.59% of the stock is currently owned by institutional investors.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $33.45 on Tuesday. The stock’s fifty day moving average is $32.04 and its 200-day moving average is $32.96. The stock has a market capitalization of $3.91 billion, a PE ratio of -2.69 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 announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. As a group, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -12.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPR shares. StockNews.com started coverage on Spirit AeroSystems in a research note on Tuesday, December 10th. They issued a “sell” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Spirit AeroSystems currently has an average rating of “Hold” and an average price target of $35.67.

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.