California Public Employees Retirement System Sells 32,948 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Posted by Defense World Staff on May 18th, 2023

California Public Employees Retirement System decreased its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,696 shares of the aerospace company’s stock after selling 32,948 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Spirit AeroSystems worth $5,674,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Spirit AeroSystems by 39.6% during the 4th quarter. Signaturefd LLC now owns 1,637 shares of the aerospace company’s stock worth $48,000 after buying an additional 464 shares during the period. Captrust Financial Advisors raised its holdings in Spirit AeroSystems by 57.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock worth $64,000 after buying an additional 794 shares during the period. SG Americas Securities LLC acquired a new stake in Spirit AeroSystems during the 3rd quarter worth approximately $101,000. CWM LLC raised its holdings in Spirit AeroSystems by 57.4% during the 4th quarter. CWM LLC now owns 3,988 shares of the aerospace company’s stock worth $118,000 after buying an additional 1,455 shares during the period. Finally, Ronald Blue Trust Inc. raised its holdings in Spirit AeroSystems by 5,771.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 5,754 shares of the aerospace company’s stock worth $126,000 after buying an additional 5,656 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Spirit AeroSystems Price Performance

SPR stock opened at $24.80 on Thursday. The company has a fifty day moving average price of $30.14 and a two-hundred day moving average price of $30.47. Spirit AeroSystems Holdings, Inc. has a one year low of $21.14 and a one year high of $38.55. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -3.36 and a beta of 1.64.

Spirit AeroSystems (NYSE:SPR – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The aerospace company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.38). Spirit AeroSystems had a negative return on equity of 365.67% and a negative net margin of 14.64%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPR has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Spirit AeroSystems from $36.00 to $32.00 in a report on Thursday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. StockNews.com upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Wednesday. Sanford C. Bernstein lowered their price objective on shares of Spirit AeroSystems from $38.00 to $29.00 in a report on Thursday, May 4th. Finally, Benchmark upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.79.

About Spirit AeroSystems

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Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.