Alpine Associates Management Inc. Acquires New Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Alpine Associates Management Inc. bought a new stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,377,600 shares of the aerospace company’s stock, valued at approximately $77,296,000. Spirit AeroSystems makes up about 3.5% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 11th largest position. Alpine Associates Management Inc. owned about 2.04% of Spirit AeroSystems at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPR. Pentwater Capital Management LP lifted its holdings in Spirit AeroSystems by 18,132.0% in the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after purchasing an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP lifted its holdings in shares of Spirit AeroSystems by 1,274.6% during the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after acquiring an additional 4,371,874 shares during the period. Appian Way Asset Management LP purchased a new position in shares of Spirit AeroSystems during the 2nd quarter worth about $39,969,000. Assenagon Asset Management S.A. lifted its holdings in shares of Spirit AeroSystems by 405.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after acquiring an additional 858,162 shares during the period. Finally, ING Groep NV purchased a new position in shares of Spirit AeroSystems during the 3rd quarter worth about $16,817,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit AeroSystems Stock Up 1.6 %

Shares of NYSE:SPR opened at $31.84 on Wednesday. Spirit AeroSystems Holdings, Inc. has a 52-week low of $24.80 and a 52-week high of $37.08. The company has a 50 day moving average of $32.22 and a two-hundred day moving average of $32.75. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -2.56 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -12.76 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in 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 report on Tuesday, August 20th. StockNews.com started coverage on shares of Spirit AeroSystems in a report on Saturday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.67.

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.