GABELLI & Co INVESTMENT ADVISERS INC. Raises Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Spirit Aerosystems by 29.6% during the 1st quarter, holding a total of 459,457 shares, making it the firm's 10th largest investment.
• Several institutional investors have also significantly increased their holdings in Spirit Aerosystems, with TIG Advisors LLC boosting its position by 66.8% in the 4th quarter.
• Spirit Aerosystems reported a disappointing earnings result with an EPS of ($3.34), missing the consensus estimate of ($0.52), and revenue lower than expected at $1.64 billion.

GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,457 shares of the aerospace company's stock after acquiring an additional 105,000 shares during the quarter. Spirit Aerosystems comprises about 2.4% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 10th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.39% of Spirit Aerosystems worth $15,833,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SPR. Raymond James Financial Inc. bought a new position in shares of Spirit Aerosystems in the 4th quarter worth about $290,000. Mariner LLC increased its stake in shares of Spirit Aerosystems by 43.1% in the 4th quarter. Mariner LLC now owns 19,091 shares of the aerospace company's stock worth $651,000 after acquiring an additional 5,751 shares in the last quarter. Hsbc Holdings PLC grew its position in Spirit Aerosystems by 33.6% during the 4th quarter. Hsbc Holdings PLC now owns 13,509 shares of the aerospace company's stock valued at $458,000 after purchasing an additional 3,397 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Spirit Aerosystems during the 4th quarter valued at about $1,435,000. Finally, Northern Trust Corp grew its position in Spirit Aerosystems by 13.7% during the 4th quarter. Northern Trust Corp now owns 565,069 shares of the aerospace company's stock valued at $19,258,000 after purchasing an additional 68,183 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors.

Spirit Aerosystems Stock Up 0.1%

Shares of NYSE SPR traded up $0.05 during trading on Thursday, reaching $41.79. 426,554 shares of the company traded hands, compared to its average volume of 719,628. The firm has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $36.68. The stock has a market capitalization of $4.91 billion, a PE ratio of -2.09 and a beta of 1.70. 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 announced its quarterly earnings results 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 firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.82 billion. The firm's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.73) earnings per share. As a group, research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Wall Street Analyst Weigh In

SPR has been the topic of several recent analyst reports. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Susquehanna increased their price objective on shares of 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.63.

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.