154,443 Shares in Spirit Aerosystems Holdings, Inc. $SPR Bought by Algert Global LLC

Key Points

• Algert Global LLC purchased 154,443 shares of Spirit Aerosystems, valued at approximately $5.32 million, marking a new stake in the aerospace company.
• Spirit Aerosystems reported a quarterly earnings miss, posting earnings per share of ($3.34), which was significantly below analysts' expectations of ($0.52).
• Institutional investors now own approximately 93.59% of Spirit Aerosystems, highlighting strong interest from hedge funds and financial institutions.

Algert Global LLC bought a new position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 154,443 shares of the aerospace company's stock, valued at approximately $5,322,000. Algert Global LLC owned about 0.13% of Spirit Aerosystems at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SPR. LPL Financial LLC raised its stake in shares of Spirit Aerosystems by 49.4% during the fourth quarter. LPL Financial LLC now owns 16,527 shares of the aerospace company's stock worth $563,000 after buying an additional 5,464 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Spirit Aerosystems during the fourth quarter worth approximately $290,000. Sterling Capital Management LLC raised its stake in shares of Spirit Aerosystems by 52.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,317 shares of the aerospace company's stock worth $215,000 after buying an additional 2,186 shares during the last quarter. Mariner LLC raised its stake in shares of Spirit Aerosystems by 43.1% during the fourth quarter. Mariner LLC now owns 19,091 shares of the aerospace company's stock worth $651,000 after buying an additional 5,751 shares during the last quarter. Finally, Senator Investment Group LP raised its stake in shares of Spirit Aerosystems by 415.3% during the fourth quarter. Senator Investment Group LP now owns 92,000 shares of the aerospace company's stock worth $124,000 after buying an additional 74,145 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPR shares. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna boosted their price target on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Spirit Aerosystems presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

Spirit Aerosystems Stock Up 2.6%

NYSE SPR traded up $1.05 during trading on Friday, reaching $40.88. 931,974 shares of the stock traded hands, compared to its average volume of 727,326. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -2.04 and a beta of 1.70. The stock's 50-day moving average price is $39.34 and its 200 day moving average price is $36.52. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82). The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.82 billion. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted ($2.73) EPS. Analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

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.