Spirit Aerosystems Holdings, Inc. $SPR Shares Bought by Twin Securities Inc.

Key Points

• Twin Securities Inc. significantly increased its holdings in Spirit Aerosystems by 761.1%, owning approximately 297,345 shares valued at over $10 million.
• Spirit Aerosystems reported a quarterly loss of ($3.34) earnings per share, missing analysts' expectations, although revenue rose 9.6% year-over-year.
• Analysts have upgraded Spirit Aerosystems to a "hold" rating with a consensus price target of $38.63, indicating cautious optimism for the stock's future.

Twin Securities Inc. raised its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 761.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 297,345 shares of the aerospace company's stock after purchasing an additional 262,815 shares during the quarter. Spirit Aerosystems accounts for about 5.3% of Twin Securities Inc.'s portfolio, making the stock its 6th largest position. Twin Securities Inc. owned about 0.25% of Spirit Aerosystems worth $10,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pentwater Capital Management LP raised its stake in shares of Spirit Aerosystems by 1.2% in the first quarter. Pentwater Capital Management LP now owns 9,330,000 shares of the aerospace company's stock valued at $321,512,000 after acquiring an additional 110,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Spirit Aerosystems by 6.2% in 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 valued at $100,605,000 after acquiring an additional 171,935 shares during the period. Millennium Management LLC raised its stake in shares of Spirit Aerosystems by 51.9% in the first quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock valued at $87,722,000 after acquiring an additional 870,263 shares during the period. TIG Advisors LLC raised its stake in shares of Spirit Aerosystems by 18.3% in the first quarter. TIG Advisors LLC now owns 2,057,216 shares of the aerospace company's stock valued at $70,892,000 after acquiring an additional 318,122 shares during the period. Finally, AQR Arbitrage LLC raised its stake in shares of Spirit Aerosystems by 73.9% in the first quarter. AQR Arbitrage LLC now owns 1,093,536 shares of the aerospace company's stock valued at $37,640,000 after acquiring an additional 464,755 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Susquehanna increased 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 raised 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 issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.63.

Spirit Aerosystems Stock Down 0.4%

SPR stock traded down $0.17 during trading on Tuesday, hitting $40.90. The company had a trading volume of 455,681 shares, compared to its average volume of 794,977. The firm has a market capitalization of $4.80 billion, a P/E ratio of -2.04 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 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 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned ($2.73) earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. Sell-side analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current 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.