Spirit Aerosystems Holdings, Inc. $SPR Shares Acquired by Quarry LP

Key Points

• Quarry LP significantly increased its stake in Spirit Aerosystems, now owning 203,434 shares, which represents approximately $7.01 million following a dramatic rise of 11,485.1% in the first quarter.
• Spirit Aerosystems faced disappointing earnings, reporting a loss of ($3.34) EPS for the last quarter, falling short of the estimated loss of ($0.52), with total revenue of $1.64 billion.
• Wall Street analysts have mixed views on Spirit Aerosystems, with one brokerage upgrading it to a hold rating, while the average target price is set at $38.63.

Quarry LP boosted its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 11,485.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,434 shares of the aerospace company's stock after buying an additional 201,678 shares during the period. Spirit Aerosystems comprises 1.5% of Quarry LP's portfolio, making the stock its 7th largest holding. Quarry LP owned approximately 0.17% of Spirit Aerosystems worth $7,010,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SPR. 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 in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Spirit Aerosystems by 48.0% in the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 1,967 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Spirit Aerosystems in the 1st quarter valued at $211,000. KBC Group NV boosted its stake in shares of Spirit Aerosystems by 23.1% in the 1st 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 in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Spirit Aerosystems by 10.0% in the 4th quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after purchasing an additional 703 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Stock Performance

NYSE:SPR traded down $0.66 on Friday, hitting $40.52. 202,806 shares of the stock were exchanged, compared to its average volume of 1,173,459. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -2.02 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's 50-day moving average price is $40.13 and its 200 day moving average price is $36.92.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.82 billion. Spirit Aerosystems's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.73) earnings per share. As a group, equities research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Susquehanna boosted their target price on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Spirit Aerosystems presently has a consensus rating of "Moderate Buy" and an average 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.