Amundi Raises Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Amundi has significantly increased its holdings in Spirit Aerosystems, raising its position by 24,236.6% to own 285,955 shares valued at approximately $9.26 million as of the first quarter.
• Spirit Aerosystems reported a loss of $3.34 per share in its recent quarterly earnings, missing analyst estimates and generating revenue of $1.64 billion, below expectations.
• Several institutional investors have raised their stakes in Spirit Aerosystems, with notable increases from Royal Bank of Canada and TIG Advisors LLC, reflecting strong interest in the company despite its recent performance.

Amundi boosted its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 24,236.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 285,955 shares of the aerospace company's stock after purchasing an additional 284,780 shares during the period. Amundi owned about 0.24% of Spirit Aerosystems worth $9,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TIG Advisors LLC lifted its stake in Spirit Aerosystems by 18.3% during the first quarter. TIG Advisors LLC now owns 2,057,216 shares of the aerospace company's stock worth $70,892,000 after purchasing an additional 318,122 shares during the last quarter. Royal Bank of Canada lifted its stake in Spirit Aerosystems by 56.6% during the first quarter. Royal Bank of Canada now owns 1,032,014 shares of the aerospace company's stock worth $35,563,000 after purchasing an additional 372,931 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Spirit Aerosystems during the first quarter worth $995,000. Quarry LP lifted its stake in Spirit Aerosystems by 11,485.1% during the first quarter. Quarry LP now owns 203,434 shares of the aerospace company's stock worth $7,010,000 after purchasing an additional 201,678 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in Spirit Aerosystems by 27.6% during the first quarter. Vident Advisory LLC now owns 14,699 shares of the aerospace company's stock worth $507,000 after purchasing an additional 3,180 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SPR. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Susquehanna upped their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $38.63.

Spirit Aerosystems Price Performance

Shares of Spirit Aerosystems stock traded down $0.46 on Friday, hitting $38.78. 789,336 shares of the company's stock traded hands, compared to its average volume of 824,222. Spirit Aerosystems Holdings, Inc. has a one year low of $27.00 and a one year high of $42.33. The company has a fifty day moving average of $40.41 and a two-hundred day moving average of $37.17. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -1.94 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) EPS for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted ($2.73) EPS. Spirit Aerosystems's quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

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.