Quarry LP Raises Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Quarry LP grew its holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 49.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,285 shares of the aerospace company’s stock after buying an additional 751 shares during the quarter. Quarry LP’s holdings in Spirit AeroSystems were worth $75,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Pentwater Capital Management LP boosted its position in shares of Spirit AeroSystems by 18,132.0% during the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after purchasing an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP boosted its holdings in Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after buying an additional 4,371,874 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Spirit AeroSystems by 495.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock worth $55,230,000 after buying an additional 1,445,994 shares during the period. Appian Way Asset Management LP purchased a new position in Spirit AeroSystems in the second quarter valued at about $39,969,000. Finally, Vanguard Group Inc. lifted its position in shares of Spirit AeroSystems by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after acquiring an additional 876,673 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPR. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a report on Monday, July 8th. Truist Financial boosted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Barclays restated an “equal weight” rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.38.

Spirit AeroSystems Stock Performance

SPR opened at $32.82 on Thursday. Spirit AeroSystems Holdings, Inc. has a 1 year low of $15.45 and a 1 year high of $37.08. The company’s 50 day simple moving average is $34.06 and its 200 day simple moving average is $33.22. The stock has a market capitalization of $3.83 billion, a PE ratio of -3.78 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.57 billion. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.46) EPS. As a group, sell-side analysts expect that Spirit AeroSystems Holdings, Inc. will post -5.57 earnings per share 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.