Principal Financial Group Inc. Has $243,000 Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Principal Financial Group Inc. trimmed its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 14.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,482 shares of the aerospace company’s stock after selling 1,219 shares during the period. Principal Financial Group Inc.’s holdings in Spirit AeroSystems were worth $243,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in shares of Spirit AeroSystems by 3,996.6% in the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after purchasing an additional 2,438,974 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Spirit AeroSystems during the third quarter worth about $77,296,000. Appian Way Asset Management LP bought a new stake in Spirit AeroSystems in the 2nd quarter valued at approximately $39,969,000. Bank of Montreal Can grew its stake in Spirit AeroSystems by 1,744.2% in the third quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock valued at $26,557,000 after purchasing an additional 758,599 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Spirit AeroSystems in the 3rd quarter valued at about $16,817,000. 93.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen upgraded shares of Spirit AeroSystems to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research note on Friday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Performance

SPR stock opened at $33.26 on Tuesday. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $37.08. The stock’s 50 day simple moving average is $32.52 and its 200 day simple moving average is $33.28. The company has a market cap of $3.89 billion, a P/E ratio of -2.68 and a beta of 1.81.

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

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.