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 first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,100 shares of the aerospace company's stock after acquiring an additional 30,000 shares during the quarter. ING Groep NV owned approximately 0.27% of Spirit Aerosystems worth $10,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its position in shares of Spirit Aerosystems by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 50,980 shares of the aerospace company's stock worth $1,737,000 after acquiring an additional 320 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Spirit Aerosystems by 10.0% during the fourth quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock worth $263,000 after acquiring an additional 703 shares during the last quarter. KBC Group NV raised its position in shares of Spirit Aerosystems by 23.1% during the first quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock worth $243,000 after acquiring an additional 1,322 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Spirit Aerosystems by 5.0% during the fourth quarter. Rafferty Asset Management LLC now owns 29,930 shares of the aerospace company's stock worth $1,020,000 after acquiring an additional 1,418 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Spirit Aerosystems by 9.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,210 shares of the aerospace company's stock worth $587,000 after acquiring an additional 1,528 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday. Susquehanna lifted their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 14th.

Spirit Aerosystems Trading Up 0.2%

SPR stock traded up $0.08 during mid-day trading on Friday, reaching $39.95. The company's stock had a trading volume of 623,758 shares, compared to its average volume of 768,790. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -2.00 and a beta of 1.70. The business's 50 day moving average price is $38.85 and its 200 day moving average price is $36.07. Spirit Aerosystems Holdings, Inc. has a 12 month low of $27.00 and a 12 month high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last released 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 firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted ($2.73) EPS. As a group, equities analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal 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.