Spirit Aerosystems Holdings, Inc. $SPR Shares Sold by Charles Schwab Investment Management Inc.

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. reduced its holdings in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and 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 approximately 0.91% of Spirit Aerosystems worth $36,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPR. Senator Investment Group LP lifted its stake in shares of Spirit Aerosystems by 415.3% in the fourth quarter. Senator Investment Group LP now owns 92,000 shares of the aerospace company's stock worth $124,000 after buying an additional 74,145 shares in the last quarter. Byrne Asset Management LLC increased its position in Spirit Aerosystems by 128.2% during the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock worth $161,000 after purchasing an additional 2,629 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Spirit Aerosystems during the first quarter worth about $211,000. Sterling Capital Management LLC increased its position in Spirit Aerosystems by 52.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,317 shares of the aerospace company's stock worth $215,000 after purchasing an additional 2,186 shares during the last quarter. Finally, KBC Group NV increased its position in Spirit Aerosystems by 23.1% during the first 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. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit Aerosystems Stock Down 0.4%

Shares of SPR traded down $0.1430 during trading on Wednesday, reaching $39.6070. 932,429 shares of the company traded hands, compared to its average volume of 1,198,998. Spirit Aerosystems Holdings, Inc. has a twelve month low of $27.00 and a twelve month high of $42.33. The stock has a market cap of $4.65 billion, a PE ratio of -1.98 and a beta of 1.70. The stock has a 50-day simple moving average of $39.18 and a 200-day simple moving average of $36.39.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share 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 period in the previous year, the company posted ($2.73) EPS. Spirit Aerosystems's revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SPR shares. Susquehanna raised their price objective 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. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.63.

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.