Mystic Asset Management Inc. Lowers Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Mystic Asset Management Inc. reduced its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,090 shares of the aerospace company’s stock after selling 1,637 shares during the period. Mystic Asset Management Inc.’s holdings in Spirit AeroSystems were worth $1,469,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its holdings in Spirit AeroSystems by 3,996.6% during the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after buying an additional 2,438,974 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Spirit AeroSystems during the 3rd quarter worth approximately $77,296,000. Bank of Montreal Can raised its stake in Spirit AeroSystems by 1,744.2% in the 3rd 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 during the last quarter. Sand Grove Capital Management LLP purchased a new stake in Spirit AeroSystems in the 3rd quarter worth approximately $14,099,000. Finally, LMR Partners LLP lifted its stake in shares of Spirit AeroSystems by 2,788.6% during the 3rd quarter. LMR Partners LLP now owns 376,404 shares of the aerospace company’s stock worth $12,237,000 after purchasing an additional 390,404 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Spirit AeroSystems Stock Up 0.6 %

Shares of SPR stock opened at $33.64 on Tuesday. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $37.08. The firm’s 50 day moving average price is $34.05 and its two-hundred day moving average price is $33.13. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -2.71 and a beta of 1.77.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, equities analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPR has been the subject of a number of recent analyst reports. StockNews.com started coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They issued a “hold” rating for the company. TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a report on Tuesday, February 11th. Fifteen analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Spirit AeroSystems 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.