Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
Spirit Aerosystems Holdings Inc (NYSE:SPR) stock reached a 52-week high, hitting $39.02. This milestone marks a significant recovery and growth for the company, reflecting a 15.08% increase over the past year. According to InvestingPro data, the company’s current valuation suggests it may be overvalued, with revenue of $6.1 billion in the last twelve months and a beta of 1.63 indicating higher volatility than the market. The stock’s performance over the last 12 months underscores investor confidence and a positive market outlook for the aerospace manufacturer. However, InvestingPro analysis reveals a WEAK overall financial health score, with significant debt of $5.4 billion and negative free cash flow. The achievement of this 52-week high highlights the company’s market momentum, despite these challenges. Discover 10+ additional exclusive insights and detailed analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Spirit AeroSystems is undergoing significant changes, starting with Boeing (NYSE:BA)’s takeover of its Belfast facility. This move comes after Spirit AeroSystems’ unsuccessful attempts to find a buyer for the site, which was part of broader negotiations with Boeing. Additionally, the company is in the process of being acquired by Boeing, with the transaction expected to close in mid-2025, pending regulatory approvals. In a separate development, a tragic crash involving an Air India Boeing 787-8 Dreamliner, a model for which Spirit AeroSystems supplies components, has occurred, raising concerns and impacting the company’s shares. The incident is currently under investigation, with Boeing actively gathering more information. Meanwhile, Spirit AeroSystems announced that John L. Plueger will step down from its Board of Directors due to increased responsibilities at Air Lease (NYSE:AL) Corporation. Plueger, who has served for a decade, played a key role in securing the merger agreement with Boeing. His departure will be effective at the company’s annual stockholders meeting in May 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.