Narwhal Capital Management reduced its stake in shares of Boeing Co. (NYSE:BA) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 15,800 shares of the aircraft producer’s stock after selling 150 shares during the period. Narwhal Capital Management’s holdings in Boeing were worth $2,052,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BA. Bank of Montreal Can acquired a new position in shares of Boeing during the second quarter valued at $316,346,000. Franklin Resources Inc. boosted its position in Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock valued at $622,808,000 after buying an additional 1,984,650 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Boeing during the first quarter valued at approximately $76,827,000. Scopia Capital Management LP purchased a new position in Boeing during the first quarter valued at approximately $38,707,000. Finally, Geode Capital Management LLC boosted its position in Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock valued at $699,957,000 after buying an additional 304,674 shares in the last quarter. Institutional investors own 75.46% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.92% during trading on Monday, hitting $130.57. 2,219,885 shares of the stock traded hands. The stock has a market cap of $81.45 billion, a PE ratio of 23.50 and a beta of 1.06. Boeing Co. has a 12 month low of $102.10 and a 12 month high of $150.59. The firm’s 50-day moving average price is $131.63 and its 200-day moving average price is $130.95.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. The business had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Analysts anticipate that Boeing Co. will post $6.29 EPS for the current year.
Several research firms have commented on BA. Goldman Sachs Group Inc. set a $107.00 target price on shares of Boeing and gave the stock a “sell” rating in a research report on Thursday, July 28th. Canaccord Genuity lifted their target price on shares of Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Jefferies Group reissued a “buy” rating and set a $165.00 target price on shares of Boeing in a research report on Friday, August 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $145.00 target price on shares of Boeing in a research report on Sunday, July 31st. Finally, Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $129.80 target price on the stock in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $147.23.
In other news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Randall L. Stephenson acquired 1,871 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by insiders.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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