Cambridge Trust Co. lowered its stake in Boeing Co (NYSE:BA) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,034 shares of the aircraft producer’s stock after selling 411 shares during the quarter. Cambridge Trust Co.’s holdings in Boeing were worth $1,779,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sciencast Management LP bought a new stake in Boeing during the 2nd quarter valued at approximately $801,000. Korea Investment CORP raised its stake in Boeing by 21.9% during the 3rd quarter. Korea Investment CORP now owns 429,080 shares of the aircraft producer’s stock valued at $109,076,000 after purchasing an additional 77,200 shares during the period. Fort Pitt Capital Group LLC raised its stake in Boeing by 4.1% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 255,421 shares of the aircraft producer’s stock valued at $50,510,000 after purchasing an additional 10,096 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at approximately $2,801,000. Finally, Chicago Equity Partners LLC raised its stake in Boeing by 154.1% during the 3rd quarter. Chicago Equity Partners LLC now owns 111,405 shares of the aircraft producer’s stock valued at $28,320,000 after purchasing an additional 67,570 shares during the period. 76.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is owned by insiders.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same quarter in the previous year, the business earned $2.47 EPS. Boeing’s revenue was up 8.9% compared to the same quarter last year. equities analysts expect that Boeing Co will post 14.05 earnings per share for the current year.
Boeing declared that its board has initiated a share buyback plan on Monday, December 11th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the aircraft producer to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
BA has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $330.00 price objective on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Bank of America set a $320.00 price objective on Boeing and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Cowen reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Boeing in a research note on Monday, December 11th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $358.47.
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The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
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