Spirit Aerosystems Holdings, Inc. $SPR Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Spirit Aerosystems Holdings, Inc. by 4.3%, selling 44,483 shares during the first quarter, and now holds 996,224 shares worth approximately $34.33 million.
• Spirit Aerosystems reported disappointing earnings with a loss of $3.34 per share for the recent quarter, significantly missing analysts' expectations of a loss of $0.52.
• Despite the earnings miss, the company's revenue increased by 9.6% year-over-year, totaling $1.64 billion, though it fell short of the anticipated $1.82 billion.

Invesco Ltd. cut its holdings in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996,224 shares of the aerospace company's stock after selling 44,483 shares during the period. Invesco Ltd. owned about 0.85% of Spirit Aerosystems worth $34,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SPR. Adage Capital Partners GP L.L.C. raised its stake in Spirit Aerosystems by 73.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,438,791 shares of the aerospace company's stock valued at $83,114,000 after buying an additional 1,029,989 shares in the last quarter. TIG Advisors LLC increased its position in shares of Spirit Aerosystems by 66.8% during the fourth quarter. TIG Advisors LLC now owns 1,739,094 shares of the aerospace company's stock worth $59,268,000 after purchasing an additional 696,533 shares in the last quarter. Appian Way Asset Management LP increased its position in shares of Spirit Aerosystems by 129.0% during the fourth quarter. Appian Way Asset Management LP now owns 1,131,506 shares of the aerospace company's stock worth $38,562,000 after purchasing an additional 637,451 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Spirit Aerosystems by 195.6% during the first quarter. SG Americas Securities LLC now owns 962,903 shares of the aerospace company's stock worth $33,182,000 after purchasing an additional 637,110 shares in the last quarter. Finally, CIBRA Capital Ltd acquired a new stake in shares of Spirit Aerosystems during the first quarter worth about $11,987,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Spirit Aerosystems Price Performance

NYSE SPR traded up $1.05 on Friday, hitting $40.88. 931,974 shares of the company's stock were exchanged, compared to its average volume of 748,218. The firm's 50-day moving average price is $39.34 and its two-hundred day moving average price is $36.51. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -2.04 and a beta of 1.70.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last released its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The business 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 earned ($2.73) EPS. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SPR shares. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Susquehanna boosted 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. According to MarketBeat, Spirit Aerosystems presently has a consensus rating of "Moderate Buy" and an average price target of $38.63.

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.