Candriam Luxembourg S.C.A. boosted its position in Boeing Co. (NYSE:BA) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 46,045 shares of the aircraft producer’s stock after buying an additional 4,706 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Boeing were worth $5,980,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prospera Financial Services Inc boosted its position in Boeing by 14.5% in the second quarter. Prospera Financial Services Inc now owns 5,008 shares of the aircraft producer’s stock worth $650,000 after buying an additional 633 shares during the last quarter. Genesee Valley Trust Co. bought a new stake in Boeing during the second quarter valued at about $330,000. First Merchants Corp boosted its stake in Boeing by 29.7% in the second quarter. First Merchants Corp now owns 2,875 shares of the aircraft producer’s stock valued at $373,000 after buying an additional 659 shares in the last quarter. Grimes & Company Inc. boosted its stake in Boeing by 22.7% in the second quarter. Grimes & Company Inc. now owns 46,412 shares of the aircraft producer’s stock valued at $6,027,000 after buying an additional 8,595 shares in the last quarter. Finally, Pitcairn Co. boosted its stake in Boeing by 1.8% in the second quarter. Pitcairn Co. now owns 3,345 shares of the aircraft producer’s stock valued at $434,000 after buying an additional 59 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.
Boeing Co. (NYSE:BA) traded down 0.91% during mid-day trading on Thursday, reaching $131.03. 2,199,395 shares of the company’s stock were exchanged. Boeing Co. has a 52 week low of $102.10 and a 52 week high of $150.59. The stock has a 50-day moving average price of $131.56 and a 200-day moving average price of $131.01. The stock has a market cap of $81.74 billion, a P/E ratio of 23.59 and a beta of 1.06.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $23.22 million. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that Boeing Co. will post $6.29 earnings per share for the current year.
Several research firms recently issued reports on BA. Vetr raised shares of Boeing from a “sell” rating to a “hold” rating and set a $129.80 price target on the stock in a report on Monday, July 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $160.00 price target on shares of Boeing in a report on Wednesday, June 1st. Canaccord Genuity upped their price target on shares of Boeing from $140.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $145.00 price target on shares of Boeing in a report on Sunday, July 31st. Finally, Bank of America Corp. reaffirmed an “underperform” rating and issued a $125.00 price target on shares of Boeing in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $147.18.
In related news, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Randall L. Stephenson acquired 1,871 shares of the stock in a transaction that occurred 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 transaction, 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 owned by corporate 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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