Lincoln Capital Corp Decreases Stock Holdings in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Lincoln Capital Corp cut its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,770 shares of the aerospace company’s stock after selling 3,700 shares during the period. Lincoln Capital Corp’s holdings in Spirit AeroSystems were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Spirit AeroSystems by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock valued at $160,886,000 after purchasing an additional 51,387 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Spirit AeroSystems by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,077,397 shares of the aerospace company’s stock valued at $244,384,000 after purchasing an additional 93,707 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Spirit AeroSystems by 20.1% in the fourth quarter. Alliancebernstein L.P. now owns 6,695,378 shares of the aerospace company’s stock valued at $198,183,000 after buying an additional 1,122,570 shares in the last quarter. BlackRock Inc. raised its stake in shares of Spirit AeroSystems by 4.8% during the 1st quarter. BlackRock Inc. now owns 6,222,548 shares of the aerospace company’s stock worth $214,865,000 after buying an additional 286,582 shares during the last quarter. Finally, Earnest Partners LLC boosted its position in shares of Spirit AeroSystems by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock worth $71,038,000 after buying an additional 209,531 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Citigroup assumed coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They set a “buy” rating and a $39.00 price objective for the company. Truist Financial upped their target price on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. KeyCorp initiated coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They set a “sector weight” rating on the stock. Finally, TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $27.00 to $35.00 in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.94.

Spirit AeroSystems Stock Performance

Shares of SPR stock traded up $0.53 during mid-day trading on Wednesday, hitting $35.65. 1,604,464 shares of the stock traded hands, compared to its average volume of 4,453,813. The company’s 50-day simple moving average is $30.52 and its 200-day simple moving average is $26.19. Spirit AeroSystems Holdings, Inc. has a twelve month low of $14.65 and a twelve month high of $36.34. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -5.88, a price-to-earnings-growth ratio of 11.26 and a beta of 1.74.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.84). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned ($1.46) earnings per share. Spirit AeroSystems’s revenue was up 37.3% on a year-over-year basis. Analysts forecast that Spirit AeroSystems Holdings, Inc. will post 0.36 earnings per share for the current year.

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.