PNC Financial Services Group Inc. Trims Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

PNC Financial Services Group Inc. decreased its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,411 shares of the aerospace company’s stock after selling 402 shares during the period. PNC Financial Services Group Inc.’s holdings in Spirit AeroSystems were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Spirit AeroSystems during the 4th quarter worth approximately $290,000. Proficio Capital Partners LLC purchased a new position in shares of Spirit AeroSystems during the 4th quarter worth approximately $520,000. M&T Bank Corp grew its stake 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 buying an additional 3,880 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Spirit AeroSystems in the 4th quarter worth approximately $32,000. Finally, AIMZ Investment Advisors LLC purchased a new position in Spirit AeroSystems during the fourth quarter valued at $208,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Price Performance

Shares of SPR opened at $35.51 on Friday. Spirit AeroSystems Holdings, Inc. has a one year low of $28.92 and a one year high of $37.08. The firm has a market capitalization of $4.15 billion, a P/E ratio of -2.86 and a beta of 1.77. The business has a fifty day moving average of $34.12 and a 200 day moving average of $33.15.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Friday, February 28th. The aerospace company reported ($4.22) EPS for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. Analysts expect that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.