Northpointe Capital LLC lowered its position in Boeing Co. (NYSE:BA) by 8.8% during the second quarter, Holdings Channel reports. The firm owned 14,747 shares of the aircraft producer’s stock after selling 1,430 shares during the period. Northpointe Capital LLC’s holdings in Boeing were worth $1,915,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. 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 during the period. 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 during the period. BlackRock Group LTD boosted its position in Boeing by 5.9% in the first quarter. BlackRock Group LTD now owns 4,481,880 shares of the aircraft producer’s stock valued at $568,928,000 after buying an additional 248,233 shares during the period. Ruffer LLP boosted its position in Boeing by 10.5% in the first quarter. Ruffer LLP now owns 3,013,198 shares of the aircraft producer’s stock valued at $382,691,000 after buying an additional 285,386 shares during the period. Finally, Bank of Montreal Can acquired a new position in Boeing during the second quarter valued at $316,346,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Boeing Co. (NYSE:BA) traded down 0.42% during trading on Friday, hitting $133.85. The stock had a trading volume of 4,302,031 shares. Boeing Co. has a 52 week low of $102.10 and a 52 week high of $150.59. The stock has a market capitalization of $83.50 billion, a P/E ratio of 24.10 and a beta of 1.03. The company has a 50-day moving average of $131.38 and a 200-day moving average of $131.14.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that Boeing Co. will post $6.29 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on the company. Barclays PLC cut their price objective on Boeing from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday. Robert W. Baird assumed coverage on Boeing in a report on Wednesday. They set an “outperform” rating and a $161.00 price objective on the stock. Zacks Investment Research cut Boeing from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Group reiterated a “positive” rating and set a $165.00 price objective on shares of Boeing in a report on Friday, September 30th. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $148.00 price objective on shares of Boeing in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $147.94.
In related news, Director Randall L. Stephenson purchased 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, with a total value of $250,508.19. Following the completion of the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at $498,204.69. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is owned by company 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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