Woodline Partners LP Sells 114,268 Shares of Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Woodline Partners LP reduced its stake in Spirit Aerosystems Holdings, Inc. by 40.9%, selling 114,268 shares and now holding approximately 0.14% of the company valued at $5.7 million.
• Several hedge funds increased their holdings in Spirit Aerosystems, with Millennium Management LLC boosting its position by 51.9% to own 2,545,611 shares worth $87.7 million.
• Despite a recent earnings miss of ($3.34) per share against an estimate of ($0.52), Spirit Aerosystems reported a 9.6% increase in revenue year-over-year, totaling $1.64 billion.

Woodline Partners LP decreased its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 40.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,409 shares of the aerospace company's stock after selling 114,268 shares during the quarter. Woodline Partners LP owned 0.14% of Spirit Aerosystems worth $5,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPR. Quantinno Capital Management LP grew its holdings in shares of Spirit Aerosystems by 78.1% during the fourth quarter. Quantinno Capital Management LP now owns 30,679 shares of the aerospace company's stock valued at $1,046,000 after buying an additional 13,450 shares in the last quarter. ProShare Advisors LLC grew its stake in Spirit Aerosystems by 10.0% in the fourth quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after purchasing an additional 703 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Spirit Aerosystems by 5.0% in the fourth quarter. Rafferty Asset Management LLC now owns 29,930 shares of the aerospace company's stock valued at $1,020,000 after purchasing an additional 1,418 shares in the last quarter. Royal Bank of Canada grew its stake in Spirit Aerosystems by 28.7% in the fourth quarter. Royal Bank of Canada now owns 659,083 shares of the aerospace company's stock valued at $22,461,000 after purchasing an additional 147,129 shares in the last quarter. Finally, Sona Asset Management US LLC purchased a new position in Spirit Aerosystems in the fourth quarter valued at about $10,123,000. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Price Performance

Shares of NYSE SPR traded up $0.01 during trading hours on Monday, hitting $38.71. 1,157,618 shares of the company's stock were exchanged, compared to its average volume of 828,090. 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 capitalization of $4.54 billion, a price-to-earnings ratio of -1.93 and a beta of 1.74. The company's 50-day moving average price is $40.41 and its 200-day moving average price is $37.24.

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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company earned ($2.73) earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Susquehanna boosted their target price on 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 Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report 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 company. Based on data from MarketBeat.com, Spirit Aerosystems currently 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.