Independent Investors Inc. boosted its stake in Boeing Co. (NYSE:BA) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 34,535 shares of the aircraft producer’s stock after buying an additional 50 shares during the period. Boeing accounts for about 2.2% of Independent Investors Inc.’s portfolio, making the stock its 10th largest position. Independent Investors Inc.’s holdings in Boeing were worth $4,485,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised 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. Ruffer LLP raised 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 in the last quarter. Bank of Montreal Can purchased a new position in Boeing during the second quarter valued at $316,346,000. Panagora Asset Management Inc. raised its position in Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock valued at $144,633,000 after buying an additional 215,276 shares in the last quarter. Finally, Aviva PLC raised its position in Boeing by 2.8% in the first quarter. Aviva PLC now owns 671,919 shares of the aircraft producer’s stock valued at $85,294,000 after buying an additional 18,253 shares in the last quarter. Institutional investors own 75.49% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.82% during midday trading on Tuesday, reaching $135.10. 2,239,773 shares of the company’s stock were exchanged. Boeing Co. has a 12-month low of $102.10 and a 12-month high of $150.59. The company has a market cap of $84.28 billion, a price-to-earnings ratio of 24.32 and a beta of 1.03. The firm has a 50-day moving average price of $131.42 and a 200 day moving average price of $131.26.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. The firm earned $24.80 million during the quarter, compared to analyst estimates of $23.22 million. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. On average, analysts expect that Boeing Co. will post $6.29 EPS for the current fiscal year.
BA has been the topic of several recent analyst reports. JPMorgan Chase & Co. set a $140.00 price objective on shares of Boeing and gave the stock a “neutral” rating in a research note on Monday, July 4th. Jefferies Group reiterated a “buy” rating and issued a $165.00 price target on shares of Boeing in a research note on Friday, August 19th. Vetr upgraded shares of Boeing from a “sell” rating to a “hold” rating and set a $129.80 price target on the stock in a research note on Monday, August 1st. Goldman Sachs Group Inc. set a $100.00 price target on shares of Boeing and gave the company a “sell” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG reiterated a “neutral” rating and issued a $148.00 price target on shares of Boeing in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. Boeing presently has a consensus rating of “Hold” and an average price target of $147.94.
In other news, Director Randall L. Stephenson purchased 1,871 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.
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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