First Manhattan CO. LLC. Has $6.85 Million Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• First Manhattan CO. LLC. reduced its stake in Spirit Aerosystems Holdings by 5.5%, now holding approximately 198,689 shares valued at $6.85 million.
• Several institutional investors increased their holdings in Spirit Aerosystems, with Byrne Asset Management boosting its stake by 128.2%.
• Analysts have upgraded the stock's consensus rating to "Moderate Buy", with a new price target set at $38.63.

First Manhattan CO. LLC. reduced its stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 198,689 shares of the aerospace company's stock after selling 11,492 shares during the period. First Manhattan CO. LLC. owned approximately 0.17% of Spirit Aerosystems worth $6,847,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

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

Spirit Aerosystems Stock Down 1.0%

Shares of Spirit Aerosystems stock traded down $0.40 during trading on Friday, reaching $40.78. The company's stock had a trading volume of 1,277,298 shares, compared to its average volume of 735,441. The business's 50-day moving average price is $40.17 and its 200-day moving average price is $36.96. The firm has a market cap of $4.79 billion, a PE ratio of -2.04 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33.

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

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.