Alpine Associates Management Inc. Boosts Stock Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Alpine Associates Management Inc. boosted its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,092,584 shares of the aerospace company’s stock after purchasing an additional 714,984 shares during the quarter. Spirit AeroSystems comprises 6.4% of Alpine Associates Management Inc.’s portfolio, making the stock its 4th largest position. Alpine Associates Management Inc. owned approximately 2.65% of Spirit AeroSystems worth $105,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Spirit AeroSystems during the fourth quarter valued at approximately $290,000. Proficio Capital Partners LLC purchased a new stake in Spirit AeroSystems during the 4th quarter valued at $520,000. M&T Bank Corp increased its holdings in shares of Spirit AeroSystems by 12.3% in the 4th quarter. M&T Bank Corp now owns 35,355 shares of the aerospace company’s stock worth $1,204,000 after purchasing an additional 3,880 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Spirit AeroSystems in the fourth quarter worth $32,000. Finally, AIMZ Investment Advisors LLC bought a new position in shares of Spirit AeroSystems during the fourth quarter valued at $208,000. Institutional investors own 93.59% of the company’s stock.

Wall Street Analyst Weigh In

SPR has been the subject of a number of recent analyst reports. StockNews.com began coverage on Spirit AeroSystems in a research report on Saturday. They issued a “hold” rating for the company. TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, February 11th. Fifteen investment 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, Spirit AeroSystems currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Spirit AeroSystems Stock Performance

NYSE SPR opened at $33.16 on Friday. The business’s fifty day moving average is $34.11 and its 200 day moving average is $33.22. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $28.92 and a fifty-two week high of $37.08. The company has a market capitalization of $3.88 billion, a PE ratio of -2.67 and a beta of 1.77.

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

Spirit AeroSystems Company 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.