PNC Financial Services Group Inc. Trims Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

PNC Financial Services Group Inc. reduced its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,664 shares of the aerospace company’s stock after selling 1,720 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Spirit AeroSystems were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in Spirit AeroSystems by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock worth $1,473,000 after purchasing an additional 460 shares during the period. HB Wealth Management LLC increased its position in shares of Spirit AeroSystems by 3.2% during the fourth quarter. HB Wealth Management LLC now owns 15,035 shares of the aerospace company’s stock worth $478,000 after acquiring an additional 464 shares during the period. CWM LLC increased its position in shares of Spirit AeroSystems by 7.7% during the fourth quarter. CWM LLC now owns 7,516 shares of the aerospace company’s stock worth $239,000 after acquiring an additional 537 shares during the period. Fifth Third Bancorp increased its position in shares of Spirit AeroSystems by 0.5% during the fourth quarter. Fifth Third Bancorp now owns 115,301 shares of the aerospace company’s stock worth $3,664,000 after acquiring an additional 609 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Spirit AeroSystems during the fourth quarter worth approximately $26,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Stock Up 1.3 %

Shares of SPR opened at $32.84 on Friday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.80. Spirit AeroSystems Holdings, Inc. has a twelve month low of $14.65 and a twelve month high of $36.34. The company has a 50 day moving average of $31.30 and a two-hundred day moving average of $31.07.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted ($1.69) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts expect that Spirit AeroSystems Holdings, Inc. will post -2.94 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group raised their target price on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna raised their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. UBS Group reduced their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price objective on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.83.

About Spirit AeroSystems

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.