Charles Schwab Investment Management Inc. Sells 214,916 Shares of Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Spirit Aerosystems by 16.7%, selling 214,916 shares and holding approximately 0.91% of the company valued at $36.9 million.
• Spirit Aerosystems reported a significant earnings miss with an EPS of ($3.34), falling short of analysts' expectations of ($0.52), despite a revenue increase of 9.6% year-over-year.
• Analysts have adjusted their ratings and price targets, with a recent upgrade from "strong sell" to "hold" and an increased target price from $37.00 to $40.00.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,070,873 shares of the aerospace company's stock after selling 214,916 shares during the period. Charles Schwab Investment Management Inc. owned about 0.91% of Spirit Aerosystems worth $36,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SPR. NBC Securities Inc. lifted its holdings in shares of Spirit Aerosystems by 113,966.7% during the 1st quarter. NBC Securities Inc. now owns 17,110 shares of the aerospace company's stock worth $589,000 after acquiring an additional 17,095 shares during the period. Twin Securities Inc. bought a new stake in shares of Spirit Aerosystems during the 4th quarter worth approximately $1,177,000. Northern Trust Corp lifted its holdings in shares of Spirit Aerosystems by 13.7% during the 4th 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 during the period. CSS LLC IL lifted its holdings in shares of Spirit Aerosystems by 147.6% during the 4th quarter. CSS LLC IL now owns 17,612 shares of the aerospace company's stock worth $600,000 after acquiring an additional 10,500 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Spirit Aerosystems during the 4th quarter worth approximately $1,965,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Analyst Ratings Changes

SPR has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Susquehanna upped their price target on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

Spirit Aerosystems Trading Up 2.6%

NYSE:SPR traded up $1.05 on Friday, hitting $40.88. The company had a trading volume of 931,974 shares, compared to its average volume of 748,218. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -2.04 and a beta of 1.70. The firm has a 50 day moving average of $39.34 and a two-hundred day moving average of $36.51. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) EPS for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted ($2.73) earnings per share. Spirit Aerosystems's revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Spirit Aerosystems Company 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.