Gabelli Funds LLC Increases Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Gabelli Funds LLC increased its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 608.1% in the 1st quarter, HoldingsChannel reports. The firm owned 52,400 shares of the aerospace company’s stock after purchasing an additional 45,000 shares during the period. Gabelli Funds LLC’s holdings in Spirit AeroSystems were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SPR. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Spirit AeroSystems during the first quarter worth about $25,000. Principal Securities Inc. acquired a new position in Spirit AeroSystems during the fourth quarter worth about $26,000. Riverview Trust Co acquired a new position in Spirit AeroSystems during the first quarter worth about $35,000. Allspring Global Investments Holdings LLC grew its position in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after buying an additional 724 shares during the period. Finally, Manchester Capital Management LLC grew its position in Spirit AeroSystems by 586.2% during the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock worth $70,000 after buying an additional 1,659 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Stock Up 0.2 %

Shares of SPR traded up $0.06 on Friday, hitting $35.57. 1,650,262 shares of the stock traded hands, compared to its average volume of 5,088,822. The firm has a market capitalization of $4.15 billion, a P/E ratio of -4.09 and a beta of 1.84. The stock’s 50 day moving average is $32.52 and its two-hundred day moving average is $31.69. Spirit AeroSystems Holdings, Inc. has a 1 year low of $14.65 and a 1 year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.62 billion. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.69) earnings per share. Research analysts forecast that Spirit AeroSystems Holdings, Inc. will post -3.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup restated a “neutral” rating and set a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Benchmark restated a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Sanford C. Bernstein restated a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Finally, Baird R W lowered shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.60.

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.