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

A number of other institutional investors also recently bought and sold shares of SPR. Raymond James Financial Inc. bought a new stake in Spirit Aerosystems during the fourth quarter worth about $290,000. Northern Trust Corp boosted its stake in Spirit Aerosystems by 13.7% during the fourth quarter. Northern Trust Corp now owns 565,069 shares of the aerospace company's stock worth $19,258,000 after acquiring an additional 68,183 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Spirit Aerosystems during the fourth quarter worth about $9,630,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Spirit Aerosystems by 6.2% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,952,014 shares of the aerospace company's stock worth $100,605,000 after acquiring an additional 171,935 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in Spirit Aerosystems by 41.7% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 483,700 shares of the aerospace company's stock worth $16,484,000 after acquiring an additional 142,400 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna boosted their price objective on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.63.

Spirit Aerosystems Stock Performance

Shares of SPR traded down $0.46 during mid-day trading on Friday, hitting $38.78. 789,336 shares of the company traded hands, compared to its average volume of 824,222. The stock has a 50-day moving average price of $40.41 and a two-hundred day moving average price of $37.17. Spirit Aerosystems Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $42.33. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of -1.94 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last released 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 firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period last year, the firm earned ($2.73) earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

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.