Bank of Nova Scotia Has $29.15 Million Position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR)

Key Points

• Bank of Nova Scotia increased its stake in Spirit Aerosystems Holdings, Inc. by 28.2%, owning approximately 846,000 shares worth $29.15 million at the end of the last quarter.
• The company's quarterly earnings reported a loss of ($4.25) EPS, significantly missing analysts' expectations, with a revenue decline of 10.6% year-over-year.
• Institutional investors and hedge funds collectively own 93.59% of Spirit Aerosystems' stock, indicating high confidence from major investors in the aerospace firm.

Bank of Nova Scotia increased its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 846,000 shares of the aerospace company's stock after buying an additional 186,000 shares during the period. Bank of Nova Scotia owned about 0.72% of Spirit Aerosystems worth $29,153,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina increased its position in Spirit Aerosystems by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 50,980 shares of the aerospace company's stock valued at $1,737,000 after acquiring an additional 320 shares during the period. ProShare Advisors LLC lifted its position 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 worth $263,000 after purchasing an additional 703 shares during the period. KBC Group NV lifted its position 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 worth $243,000 after purchasing an additional 1,322 shares during the period. Rafferty Asset Management LLC lifted its position in shares of Spirit Aerosystems by 5.0% in the 4th quarter. Rafferty Asset Management LLC now owns 29,930 shares of the aerospace company's stock worth $1,020,000 after purchasing an additional 1,418 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in shares of Spirit Aerosystems by 9.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,210 shares of the aerospace company's stock worth $587,000 after purchasing an additional 1,528 shares during the period. 93.59% of the stock is owned by institutional investors.

Spirit Aerosystems Stock Performance

Shares of NYSE SPR traded down $0.19 during midday trading on Tuesday, reaching $38.81. The stock had a trading volume of 44,713 shares, compared to its average volume of 1,231,037. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of -2.13 and a beta of 1.70. Spirit Aerosystems Holdings, Inc. has a twelve month low of $27.00 and a twelve month high of $42.33. The company's 50 day moving average price is $38.66 and its 200 day moving average price is $35.94.

Analyst Ratings Changes

Separately, Susquehanna boosted their price target on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th.

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.