Water Island Capital LLC Cuts Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Water Island Capital LLC decreased its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 87.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,887 shares of the aerospace company’s stock after selling 55,065 shares during the period. Water Island Capital LLC’s holdings in Spirit AeroSystems were worth $269,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Spirit AeroSystems during the 4th quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in Spirit AeroSystems in the 4th quarter worth approximately $67,000. Byrne Asset Management LLC grew its position in Spirit AeroSystems by 210.6% in the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Vestcor Inc bought a new position in shares of Spirit AeroSystems during the 4th quarter valued at about $97,000. Institutional investors own 93.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SPR. TD Cowen upgraded shares of Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Finally, StockNews.com assumed coverage on Spirit AeroSystems in a research note on Saturday, March 8th. They issued a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

Spirit AeroSystems Stock Down 0.3 %

Spirit AeroSystems stock opened at $32.75 on Friday. Spirit AeroSystems Holdings, Inc. has a 52-week low of $27.00 and a 52-week high of $37.08. The company has a market cap of $3.83 billion, a P/E ratio of -2.64 and a beta of 1.41. The business has a 50-day simple moving average of $33.76 and a two-hundred day simple moving average of $33.12.

Spirit AeroSystems (NYSE:SPR) last announced its 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 for the quarter, compared to analyst estimates of $1.94 billion. Research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

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.