Appian Way Asset Management LP Sells 721,906 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Appian Way Asset Management LP decreased its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 59.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,055 shares of the aerospace company’s stock after selling 721,906 shares during the quarter. Spirit AeroSystems comprises approximately 3.6% of Appian Way Asset Management LP’s holdings, making the stock its 9th largest position. Appian Way Asset Management LP owned approximately 0.42% of Spirit AeroSystems worth $16,062,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its holdings in Spirit AeroSystems by 7.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,968 shares of the aerospace company’s stock valued at $468,000 after acquiring an additional 921 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Spirit AeroSystems by 7.9% during the first quarter. Public Employees Retirement System of Ohio now owns 47,226 shares of the aerospace company’s stock valued at $1,703,000 after purchasing an additional 3,454 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Spirit AeroSystems by 3.2% during the first quarter. California State Teachers Retirement System now owns 115,912 shares of the aerospace company’s stock worth $4,181,000 after buying an additional 3,562 shares in the last quarter. Comerica Bank grew its position in Spirit AeroSystems by 47.9% in the first quarter. Comerica Bank now owns 6,929 shares of the aerospace company’s stock worth $250,000 after buying an additional 2,244 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Spirit AeroSystems in the second quarter valued at $1,211,000. Institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Price Performance

NYSE SPR opened at $32.32 on Friday. The company has a 50 day simple moving average of $32.09 and a 200-day simple moving average of $32.77. Spirit AeroSystems Holdings, Inc. has a 52-week low of $25.16 and a 52-week high of $37.08. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -2.60 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts predict that Spirit AeroSystems Holdings, Inc. will post -12.76 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com initiated coverage on Spirit AeroSystems in a research note on Sunday, November 24th. They set a “sell” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.