Principal Financial Group Inc. Cuts Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Principal Financial Group Inc. reduced its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,501 shares of the aerospace company’s stock after selling 981 shares during the period. Principal Financial Group Inc.’s holdings in Spirit AeroSystems were worth $222,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cerity Partners LLC lifted its holdings in shares of Spirit AeroSystems by 59.2% during the 3rd quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock worth $3,872,000 after acquiring an additional 44,282 shares during the period. JPMorgan Chase & Co. increased its position in Spirit AeroSystems by 32.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,837 shares of the aerospace company’s stock worth $15,047,000 after purchasing an additional 112,286 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in Spirit AeroSystems during the 3rd quarter worth approximately $77,296,000. Oak Family Advisors LLC acquired a new stake in Spirit AeroSystems during the 4th quarter worth approximately $999,000. Finally, Sand Grove Capital Management LLP acquired a new stake in Spirit AeroSystems during the 3rd quarter worth approximately $14,099,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPR has been the subject of a number of research analyst reports. TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research report on Saturday. They set a “hold” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Fifteen analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.00.

Spirit AeroSystems Trading Down 0.9 %

Spirit AeroSystems stock opened at $33.16 on Friday. The stock has a market cap of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.77. The stock has a 50 day moving average of $34.13 and a 200-day moving average of $33.24. Spirit AeroSystems Holdings, Inc. has a 52 week low of $28.92 and a 52 week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Friday, February 28th. The aerospace company reported ($4.22) EPS for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. As a group, equities analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal 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.