Inspire Investing LLC Increases Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Inspire Investing LLC raised its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,582 shares of the aerospace company’s stock after purchasing an additional 1,893 shares during the quarter. Inspire Investing LLC’s holdings in Spirit AeroSystems were worth $409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Spirit AeroSystems in the 1st quarter valued at about $25,000. Byrne Asset Management LLC bought a new stake in Spirit AeroSystems in the second quarter valued at about $30,000. Riverview Trust Co bought a new position in Spirit AeroSystems during the 1st quarter worth approximately $35,000. Allspring Global Investments Holdings LLC lifted its holdings in Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after buying an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Spirit AeroSystems by 586.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,659 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit AeroSystems Price Performance

Spirit AeroSystems stock opened at $31.73 on Friday. Spirit AeroSystems Holdings, Inc. has a 12-month low of $20.98 and a 12-month high of $37.08. The stock has a market capitalization of $3.70 billion, a PE ratio of -3.65 and a beta of 1.85. The firm has a 50 day simple moving average of $33.38 and a 200-day simple moving average of $32.98.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.57 billion. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.46) EPS. On average, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -4.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPR. Baird R W cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Truist Financial lifted their price target on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a report on Monday, July 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.73.

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.