Livingston Group Asset Management CO operating as Southport Capital Management decreased its stake in Boeing Co. (NYSE:BA) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,047 shares of the aircraft producer’s stock after selling 245 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Boeing were worth $785,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Lodestar Investment Counsel LLC IL raised its position in Boeing by 117.4% in the first quarter. Lodestar Investment Counsel LLC IL now owns 3,659 shares of the aircraft producer’s stock worth $464,000 after buying an additional 1,976 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in Boeing during the first quarter worth approximately $542,000. Duncker Streett & Co. Inc. raised its position in Boeing by 1.0% in the first quarter. Duncker Streett & Co. Inc. now owns 9,681 shares of the aircraft producer’s stock worth $1,229,000 after buying an additional 95 shares in the last quarter. IMS Capital Management raised its position in Boeing by 18.9% in the first quarter. IMS Capital Management now owns 2,201 shares of the aircraft producer’s stock worth $279,000 after buying an additional 350 shares in the last quarter. Finally, Wade G W & Inc. raised its position in Boeing by 8.2% in the first quarter. Wade G W & Inc. now owns 2,822 shares of the aircraft producer’s stock worth $358,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.10% on Tuesday, hitting $132.25. 2,829,188 shares of the stock traded hands. The stock has a 50-day moving average price of $131.43 and a 200 day moving average price of $131.10. Boeing Co. has a 12-month low of $102.10 and a 12-month high of $150.59. The stock has a market cap of $82.50 billion, a price-to-earnings ratio of 23.81 and a beta of 1.03.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period last year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts anticipate that Boeing Co. will post $6.29 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on BA. JPMorgan Chase & Co. set a $140.00 target price on shares of Boeing and gave the company a “neutral” rating in a report on Monday, July 4th. Jefferies Group reaffirmed a “buy” rating and issued a $165.00 target price on shares of Boeing in a report on Friday, August 19th. 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 report on Monday, August 1st. Goldman Sachs Group Inc. set a $100.00 target price on shares of Boeing and gave the company a “sell” rating in a report on Friday, July 22nd. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $148.00 target price on shares of Boeing in a report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. Boeing has an average rating of “Hold” and a consensus price target of $147.18.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randall L. Stephenson bought 1,871 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $133.89 per share, with a total value of $250,508.19. Following the completion of the acquisition, the director now owns 3,721 shares of the company’s stock, valued at $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company 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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