National Bank of Canada FI Sells 922,243 Shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR)

Key Points

• National Bank of Canada FI reduced its stake in Spirit Aerosystems Holdings, Inc. by 25.1%, selling 922,243 shares and currently owning approximately 2.35% of the company.
• Several institutional investors, including Byrne Asset Management and Cetera Investment Advisers, made changes to their stakes, with Byrne Asset Management significantly increasing its position by 128.2%.
• Spirit Aerosystems reported a loss of ($3.34) earnings per share for the last quarter, missing estimates and seeing a revenue of $1.64 billion, which was below expectations.

National Bank of Canada FI decreased its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,758,904 shares of the aerospace company's stock after selling 922,243 shares during the quarter. National Bank of Canada FI owned approximately 2.35% of Spirit Aerosystems worth $95,072,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SPR. Raymond James Financial Inc. acquired a new position in Spirit Aerosystems during the 4th quarter worth $290,000. LPL Financial LLC raised its position in shares of Spirit Aerosystems by 49.4% during the 4th quarter. LPL Financial LLC now owns 16,527 shares of the aerospace company's stock valued at $563,000 after acquiring an additional 5,464 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Spirit Aerosystems by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,847,904 shares of the aerospace company's stock valued at $62,998,000 after acquiring an additional 75,046 shares during the last quarter. Invesco Ltd. raised its position in shares of Spirit Aerosystems by 6.1% during the 4th quarter. Invesco Ltd. now owns 1,040,707 shares of the aerospace company's stock valued at $35,467,000 after acquiring an additional 59,815 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Spirit Aerosystems by 94.8% during the 4th quarter. Legal & General Group Plc now owns 247,165 shares of the aerospace company's stock valued at $8,423,000 after acquiring an additional 120,273 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Stock Up 2.6%

Shares of SPR traded up $1.02 during trading hours on Tuesday, reaching $40.54. The stock had a trading volume of 496,225 shares, compared to its average volume of 1,216,840. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33. The firm has a 50-day moving average of $38.88 and a 200 day moving average of $36.14. The company has a market cap of $4.76 billion, a P/E ratio of -2.02 and a beta of 1.70.

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 analysts' consensus estimates of ($0.52) by ($2.82). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted ($2.73) EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday. Susquehanna upped their target price on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, July 14th.

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.