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4-Traders Homepage  >  Equities  >  Nyse  >  Spirit AeroSystems Holdings, Inc.    SPR

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Spirit AeroSystems Names Former Lockheed Executive Lawson as New Chief

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03/19/2013 | 01:12pm CEST
   By Tess Stynes 
 

Spirit AeroSystems Holdings Inc. (>> Spirit AeroSystems Holdings, Inc.) appointed former Lockheed Martin Corp. (>> Lockheed Martin Corporation) executive Larry A. Lawson as the aerospace company's new president and chief executive starting early next month.

Mr. Lawson will succeed Spirit AeroSystems President and Chief Executive Jeffrey L. Turner, who in November had unveiled plans to retire early this year and is expected to remain on the company's board. Mr. Turner has been CEO since the company was formed in 2005.

Spirit AeroSystems is a major supplier to Boeing Co. (>> The Boeing Company) and the Gulfstream unit of General Dynamics Corp. (>> General Dynamics Corporation), which like other plane makers have looked to drive down their own costs by subcontracting more work to firms like Spirit.

Mr. Lawson was formerly executive vice president of Lockheed Martin's aeronautics business segment. In his work at the defense company, Mr. Lawson oversaw key aircraft production programs including the F-35 and the F-22 Raptor.

Chairman Bob Johnson said, "The board sought a CEO armed with a strong record of operating and financial performance on both mature and new aircraft programs with the ability to take Spirit to the next level."

Spirit AeroSystems last month reported that its fourth-quarter profit was flat from a year earlier as a double-digit percentage rise in revenue muted by a rise in operating expenses.

Shares closed Monday at $18.80 and were inactive premarket. The stock is up 11% this year.

Write to Tess Stynes at Tess.Stynes@dowjones.com

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Financials ($)
Sales 2017 6 906 M
EBIT 2017 637 M
Net income 2017 457 M
Debt 2017 528 M
Yield 2017 0,45%
P/E ratio 2017 17,40
P/E ratio 2018 13,36
EV / Sales 2017 1,29x
EV / Sales 2018 1,25x
Capitalization 8 364 M
Chart SPIRIT AEROSYSTEMS HOLDING
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Spirit AeroSystems Holding Technical Analysis Chart | SPR | US8485741099 | 4-Traders
Technical analysis trends SPIRIT AEROSYSTEMS HOLDING
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 74,5 $
Spread / Average Target 5,4%
EPS Revisions
Managers
NameTitle
Thomas C. Gentile President, Chief Executive Officer & Director
Robert D. Johnson Chairman
Ron Rabe Senior Vice President-Operations
Sanjay Kapoor Chief Financial Officer & Executive Vice President
John A. Pilla Chief Technology Officer & Senior VP-Engineering
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