Royal Bank of Canada Has $35.56 Million Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Royal Bank of Canada has increased its ownership in Spirit Aerosystems Holdings, Inc. by 56.6%, acquiring a total of over 1 million shares valued at approximately $35.56 million.
• Multiple hedge funds have recently modified their positions in Spirit Aerosystems, with institutional investors now holding 93.59% of the company stock.
• Spirit Aerosystems reported a significant earnings miss, posting ($3.34) earnings per share versus an expectation of ($0.52) in their latest quarterly results.

Royal Bank of Canada raised its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,032,014 shares of the aerospace company's stock after buying an additional 372,931 shares during the quarter. Royal Bank of Canada owned 0.88% of Spirit Aerosystems worth $35,563,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC increased its stake in 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 buying an additional 2,629 shares during the period. Russell Investments Group Ltd. increased its stake in 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 buying an additional 1,967 shares during the period. Cetera Investment Advisers acquired a new position in Spirit Aerosystems in the 1st quarter valued at approximately $211,000. KBC Group NV increased its stake in shares of Spirit Aerosystems by 23.1% during 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 last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Spirit Aerosystems during the 1st quarter worth $266,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Trading Down 0.4%

Shares of Spirit Aerosystems stock traded down $0.17 during mid-day trading on Tuesday, reaching $40.90. 455,681 shares of the stock were exchanged, compared to its average volume of 794,977. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -2.04 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The firm has a 50-day simple moving average of $40.29 and a 200 day simple moving average of $37.08.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The business had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.82 billion. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.73) EPS. On average, research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on SPR. Susquehanna raised 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 note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.63.

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.