OMERS ADMINISTRATION Corp Has $19.91 Million Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Spirit Aerosystems Holdings, Inc. by 19.5%, owning 577,900 shares valued at approximately $19.9 million at the end of the reporting period.
• The stock has seen favorable adjustments from analysts, with ratings shifting from a "strong sell" to a "hold" and a target price increase from $37.00 to $40.00.
• Spirit Aerosystems reported a significant earnings miss, posting an EPS of ($3.34) compared to market expectations of ($0.52) and generated revenues of $1.64 billion, below the anticipated $1.82 billion.

OMERS ADMINISTRATION Corp increased its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,900 shares of the aerospace company's stock after purchasing an additional 94,200 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.49% of Spirit Aerosystems worth $19,914,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC boosted 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 purchasing an additional 2,629 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Spirit Aerosystems by 48.0% during the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock worth $209,000 after buying an additional 1,967 shares during the period. Cetera Investment Advisers acquired a new stake in Spirit Aerosystems during the 1st quarter worth approximately $211,000. KBC Group NV raised its holdings 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 purchasing an additional 1,322 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Spirit Aerosystems in the first quarter valued at approximately $266,000. Institutional investors own 93.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SPR. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Susquehanna lifted their price objective on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

Spirit Aerosystems Stock Performance

SPR traded down $0.18 during trading on Monday, reaching $41.63. 786,974 shares of the stock were exchanged, compared to its average volume of 725,625. The stock has a market cap of $4.89 billion, a P/E ratio of -2.08 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a twelve month low of $27.00 and a twelve month high of $42.33. The stock's 50 day moving average price is $39.78 and its two-hundred day moving average price is $36.76.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.73) EPS. Equities research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

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.