Spirit Aerosystems (NYSE:SPR) Hits New 52-Week High - Here's What Happened

Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.74 and last traded at $40.62, with a volume of 696608 shares changing hands. The stock had previously closed at $39.93.

Analyst Ratings Changes

Separately, Susquehanna set a $40.00 price target on Spirit Aerosystems and gave the company a "neutral" rating in a research report on Monday.

Spirit Aerosystems Stock Performance

The stock has a 50-day moving average price of $37.92 and a 200-day moving average price of $35.37. The stock has a market cap of $4.77 billion, a P/E ratio of -2.23 and a beta of 1.61.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) EPS for the quarter, missing analysts' consensus estimates of ($1.14) by ($3.11). The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems's revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.93) earnings per share. Sell-side analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit Aerosystems

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Spirit Aerosystems by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company's stock worth $368,142,000 after purchasing an additional 203,549 shares during the period. Pentwater Capital Management LP increased its stake in Spirit Aerosystems by 1.2% in the 1st quarter. Pentwater Capital Management LP now owns 9,330,000 shares of the aerospace company's stock worth $321,512,000 after purchasing an additional 110,000 shares during the period. National Bank of Canada FI increased its stake in Spirit Aerosystems by 47.2% in the 4th quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company's stock worth $125,453,000 after purchasing an additional 1,181,147 shares during the period. Norges Bank purchased a new position in shares of Spirit Aerosystems during the fourth quarter valued at approximately $105,879,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 valued at $100,605,000 after buying an additional 171,935 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.