Spirit Aerosystems Holdings, Inc. $SPR Shares Bought by Millennium Management LLC

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 raised its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 51.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,545,611 shares of the aerospace company's stock after purchasing an additional 870,263 shares during the quarter. Millennium Management LLC owned 2.17% of Spirit Aerosystems worth $87,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Spirit Aerosystems by 6.2% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,952,014 shares of the aerospace company's stock valued at $100,605,000 after purchasing an additional 171,935 shares during the last quarter. TIG Advisors LLC grew its position in shares of Spirit Aerosystems by 18.3% during the first quarter. TIG Advisors LLC now owns 2,057,216 shares of the aerospace company's stock worth $70,892,000 after acquiring an additional 318,122 shares during the last quarter. AQR Arbitrage LLC grew its position in Spirit Aerosystems by 73.9% in the 1st quarter. AQR Arbitrage LLC now owns 1,093,536 shares of the aerospace company's stock valued at $37,640,000 after buying an additional 464,755 shares during the last quarter. Magnetar Financial LLC raised its stake in shares of Spirit Aerosystems by 19.1% during the 1st quarter. Magnetar Financial LLC now owns 1,067,468 shares of the aerospace company's stock worth $36,785,000 after buying an additional 171,561 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Spirit Aerosystems by 56.6% in the 1st quarter. Royal Bank of Canada now owns 1,032,014 shares of the aerospace company's stock valued at $35,563,000 after purchasing an additional 372,931 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Price Performance

SPR stock traded down $0.17 during midday trading on Tuesday, reaching $40.90. 455,681 shares of the stock were exchanged, compared to its average volume of 794,977. The stock has a market capitalization of $4.80 billion, a PE ratio of -2.04 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33. The company has a fifty day moving average price of $40.29 and a 200 day moving average price of $37.08.

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 firm had revenue of $1.64 billion during 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 period in the previous year, the business posted ($2.73) earnings per share. As a group, analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPR shares. Susquehanna upped their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.