The Manufacturers Life Insurance Company Decreases Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

The Manufacturers Life Insurance Company lowered its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 65.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,652 shares of the aerospace company’s stock after selling 14,349 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Spirit AeroSystems were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new position in shares of Spirit AeroSystems during the second quarter worth about $30,000. Waldron Private Wealth LLC purchased a new stake in shares of Spirit AeroSystems during the third quarter worth approximately $32,000. Quest Partners LLC acquired a new stake in shares of Spirit AeroSystems during the third quarter worth $49,000. Quarry LP boosted its holdings in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after acquiring an additional 751 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock worth $150,000 after acquiring an additional 771 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Trading Up 1.5 %

Shares of SPR stock opened at $33.45 on Tuesday. The firm has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $32.96. The company has a market capitalization of $3.91 billion, a PE ratio of -2.69 and a beta of 1.82. Spirit AeroSystems Holdings, Inc. has a twelve month low of $25.16 and a twelve month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. Equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post -12.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPR. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. StockNews.com began coverage on Spirit AeroSystems in a research report on Tuesday, December 10th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.67.

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.