ING Groep NV Purchases 30,000 Shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR)

Key Points

• ING Groep NV increased its stake in Spirit Aerosystems Holdings, Inc. by 10.4%, owning 319,100 shares valued at approximately $11 million after acquiring an additional 30,000 shares in the first quarter.
• Other institutional investors, including Senator Investment Group LP and Byrne Asset Management LLC, also significantly increased their holdings, indicating strong interest in Spirit Aerosystems as 93.59% of the stock is owned by institutional investors.
• Wall Street analysts have raised their price target for Spirit Aerosystems from $37.00 to $40.00, signaling potential growth for the company.

ING Groep NV lifted its stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 319,100 shares of the aerospace company's stock after acquiring an additional 30,000 shares during the quarter. ING Groep NV owned about 0.27% of Spirit Aerosystems worth $10,996,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Spirit Aerosystems during the 4th quarter worth about $67,000. Byrne Asset Management LLC lifted its position in shares of Spirit Aerosystems by 128.2% during the 1st quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock worth $161,000 after purchasing an additional 2,629 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Spirit Aerosystems during the 1st quarter worth about $211,000. Sterling Capital Management LLC lifted its position in shares of Spirit Aerosystems by 52.9% during the 4th quarter. Sterling Capital Management LLC now owns 6,317 shares of the aerospace company's stock worth $215,000 after purchasing an additional 2,186 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Spirit Aerosystems by 23.1% during the 1st quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock worth $243,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Price Performance

Shares of SPR stock traded up $0.24 during trading hours on Wednesday, reaching $39.53. The company had a trading volume of 476,760 shares, compared to its average volume of 811,801. The company has a 50 day moving average of $38.71 and a 200 day moving average of $35.97. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -1.97 and a beta of 1.70. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year 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) 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 analyst estimates of $1.82 billion. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.73) earnings per share. As a group, sell-side analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Susquehanna upped their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, July 14th.

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.