National Bank of Canada FI Trims Stock Holdings in 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 trimmed its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 25.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 2.35% of Spirit Aerosystems worth $95,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Senator Investment Group LP raised its position in Spirit Aerosystems by 415.3% in the 4th quarter. Senator Investment Group LP now owns 92,000 shares of the aerospace company's stock valued at $124,000 after purchasing an additional 74,145 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Spirit Aerosystems by 128.2% in the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after acquiring an additional 2,629 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Spirit Aerosystems in the first quarter valued at $211,000. Sterling Capital Management LLC lifted its position in shares of Spirit Aerosystems by 52.9% in the fourth quarter. Sterling Capital Management LLC now owns 6,317 shares of the aerospace company's stock valued at $215,000 after acquiring an additional 2,186 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Spirit Aerosystems by 23.1% in the first quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock valued at $243,000 after acquiring an additional 1,322 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit Aerosystems Stock Performance

Shares of SPR stock traded up $0.10 during trading hours on Wednesday, reaching $40.61. The company had a trading volume of 206,340 shares, compared to its average volume of 1,210,178. Spirit Aerosystems Holdings, Inc. has a twelve month low of $27.00 and a twelve month high of $42.33. The company has a market capitalization of $4.76 billion, a P/E ratio of -2.03 and a beta of 1.70. The stock's fifty day simple moving average is $38.93 and its 200 day simple moving average is $36.17.

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

Wall Street Analyst Weigh In

SPR has been the topic of several recent research reports. Susquehanna upped their price objective 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 report on Saturday.

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.