Millennium Management LLC Has $87.72 Million Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Millennium Management LLC increased its stake in Spirit Aerosystems by 51.9%, acquiring an additional 870,263 shares to reach a total of 2,545,611 shares worth approximately $87.72 million.
• Spirit Aerosystems reported a loss of ($3.34) EPS for the last quarter, significantly missing analyst expectations of ($0.52), with a revenue of $1.64 billion compared to a forecast of $1.82 billion.
• Market analysts have adjusted their ratings and price targets for Spirit Aerosystems, with Susquehanna raising its target from $37.00 to $40.00 and a current consensus price target of $38.63.

Millennium Management LLC lifted its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 51.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,545,611 shares of the aerospace company's stock after buying an additional 870,263 shares during the quarter. Millennium Management LLC owned about 2.17% of Spirit Aerosystems worth $87,722,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SPR. Byrne Asset Management LLC grew its stake in shares of Spirit Aerosystems by 128.2% in the 1st quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after buying an additional 2,629 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Spirit Aerosystems by 48.0% in the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock worth $209,000 after purchasing an additional 1,967 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Spirit Aerosystems in the 1st quarter worth approximately $211,000. KBC Group NV lifted its holdings in Spirit Aerosystems by 23.1% in 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. Finally, ProShare Advisors LLC lifted its holdings in Spirit Aerosystems by 10.0% in the 4th quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock worth $263,000 after purchasing an additional 703 shares during the last quarter. Institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Stock Down 0.9%

Spirit Aerosystems stock traded down $0.37 during mid-day trading on Friday, reaching $38.88. The company had a trading volume of 326,841 shares, compared to its average volume of 1,166,010. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33. The company has a 50 day moving average of $40.37 and a 200-day moving average of $37.14. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -1.94 and a beta of 1.74.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPR shares. Susquehanna boosted 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. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.63.

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.